Pakistan “Well positioned” for the first IMF rescue review: Finmin Aurangzeb

• Finmin Aurangzeb confirms that the IMF delegation is in Pakistan.
• The finance minister says there will be two rounds of talks.
• Islamabad secured $ 7 billion last summer.

Pakistan was “well positioned” for the first review of the $ 7 billion bailout of the International Monetary Fund, as talks with the worldwide lender began on Tuesday, Finance Minister Muhammad Aurangzeb told Reuters.

Islamabad secured a $ 7 billion (EFF) facilitating facility last summer to help make its way out of an economic crisis.

The program has played a key role in stabilizing Pakistan’s economy, and the government has said the country is ongoing for a long -term recovery.

“It’s here, we’ll have two rounds of talks, first technically and then a policy level,” Finance Minister Muhammad Aurangzeb said.

“I think we’re well placed” for the review, he said.

The Treasury posted a photo on Tuesday morning, showing the meeting of its employees with IMF representatives.

The IMF team usually spends about two weeks looking at fiscal reforms and politics.

A separate IMF team was in Pakistan last week to discuss about $ 1 billion in climate funding over the EFF.

The news They said that the IMF review mission and the government will discuss the performance of various sectors of the economy in the first half (July-DEK), evaluating any requirements for making adjustments to the macroeconomic and budgetary framework for the whole financial year 2024-25.

The crucial part would be the formation of the widespread parameters for the large outlines of the next budget for 2025-26. If both sides cannot develop a broader consensus on the personnel agreement, it could remain until the budget for 2025-26 by Parliament.