Senior IMF Official Expects Staff-Level Agreement with Pakistan Soon

International Monetary Fund’s (IMF) Director for Middle East and Central Asia Department (MCD) Jihad Azour Wednesday expressed confidence that the staff-level agreement (SLA) with Pakistan will be signed soon followed by the IMF Board’s approval.

The director’s remarks came during a meeting with Finance Minister Ishaq Dar who attended IMF/World Bank Spring meetings through Zoom from Islamabad, according to a press handout issued by the government.

(2/2)…Mr. Jihad Azour expressed confidence that SLA expected to be signed soon which to be followed by the Board’s approval for the 9th Review

— Ministry of Finance, Government of Pakistan (@Financegovpk) April 12, 2023

The two sides discussed the progress made on the ongoing IMF program, particularly talks held with the IMF Mission during their visit to Pakistan and the implementation of prior actions.

The finance minister mentioned that due to local important commitments, the prime minister has asked him to stay in Pakistan due to which he had to cancel his scheduled visit to Washington DC and therefore he is attending the meetings via Zoom.

Dar apprised the IMF team about the economic challenges being faced by the country. He further shared the government’s vision for bringing about macroeconomic stability in the country. He informed that all prior actions for the 9th Review under the Extended Fund Facility have already been completed and the government is fully committed to fulfilling its obligations as agreed with the IMF.

Azour hoped that Pakistan would continue towards its progress on the reforms in various sectors and complete the IMF programme in time and the IMF will play a positive role in bringing economic stability to Pakistan.

Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Pasha attended the meeting virtually from Islamabad. Whereas Ambassador of Pakistan to the US Masood Ahmad Khan, SBP Governor Jameel Ahmad, Secretary Finance, and Secretary EAD attended the meeting in person.