Daily Times

The International Monetary Fund (IMF) said talks are “continuing virtually” with authorities in Islamabad towards reaching a staff-level agreement (SLA) on a new programme.

Julie Kozack, Director of the Communications Department at IMF, stated this while addressing a press briefing on Thursday.

“We recently had staff visiting Pakistan. The staff was there May 13th through 23rd.

“We made significant progress toward reaching a staff-level agreement on a homegrown programme that can be supported under a new Extended Fund Facility (EFF) with the Fund.

“Those discussions are continuing virtually,” added Kozack.

The IMF official, when queried about disclosing ministers’ assets, refrained from giving an answer.

“I do not have anything at that level of detail,” she said.

Last month, the IMF mission concluded its visit to Pakistan as it discussed Islamabad’s pursuit of a longer, larger Extended Fund Facility (EFF).

“Building on the economic stabilisation achieved through the successful completion of the 2023 Stand-by Arrangement (SBA), the IMF and the Pakistani authorities made significant progress toward reaching a Staff Level Agreement (SLA) on a comprehensive economic policy and reform programme that can be supported under an Extended Fund Facility (EFF),” IMF Mission Chief to Pakistan Nathan Porter was quoted as saying in a statement back then.

“The authorities’ reform programme aims to move Pakistan from economic stabilisation to strong, inclusive, and resilient growth,” it added.

Pakistan’s $3-billion SBA concluded in April, but authorities in Islamabad have been keen to pursue a 24th bailout with the IMF, hoping that a longer, larger EFF will put it on the path of permanence when it comes to economic stability and reform.

Many analysts believe that the IMF and Pakistan will be able to reach a staff-level agreement once the government presents the budget.