Pakistan to Present 6th Review to IMF Board Next Month

The government of Pakistan will present the sixth review of the authorities’ reform program supported by the International Monetary Fund’s (IMF) Extended Fund Facility (EFF) on 12 January 2022.

According to a spokesperson for the Ministry of Finance, Pakistan will soon present its progress and related policies and reforms pivotal to the completion of the sixth review to the global lender.

The review is subject to approval by the IMF’s Executive Board, following the implementation of prior actions, notably on fiscal and institutional reforms.

The development comes despite the government having deferred a cabinet motion of the State Bank of Pakistan Amendment Bill, 2021, in order to meet the pre-conditions set by the International Monetary Fund (IMF).

The government is also seriously considering bringing amendments to the Finance Bill through an ordinance, according to Finance Parliamentary Secretary, Zain Qureshi

He stated that the government is now in a fix after the cabinet’s initial deliberation on the mini-budget where resistance to the SBP Amendment Bill came from a few ministers, leaving no option but to introduce an amendment in the Finance Bill through an ordinance.

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