ISLAMABAD: The delegation of International Monetary Fund (IMF) landed in Pakistan Thursday on a week-long visit to hold talks with the new government’s officials to review economic situation and monetary requirements of the country.
The IMF mission headed by Herald Finger will meet the officials of Ministry of Finance, Governor State Bank and other officials of economic affairs during their stay.
The IMF delegation is also expected to hold a meeting with Finance Minister Asad Umar.
According to Finance Ministry, the purpose of delegation’s visit is the part of the government’s strategy to keep all options open. While, the monetary fund has called it a regular visit to Pakistan.
During the talks, debt payment and monetary reforms will also come under discussion.
In August, Finance Minister Asad Umar said in a statement that his government needs $9 billion to run Pakistan.
He said Pakistan, as per the budget, need $9 billion to run the country.”We are trying to address the root cause that compels us to borrow these $9bn. Off course, we know any policy will take time to yield results,” he added.
The minister added that the decision to approach the International Monetary Fund (IMF) for loans will be taken after consultations and taking the parliament into confidence.
Additionally, the Federal Minister has refuted the impression that Pakistan has been in a state of economic emergency.
While giving an interview to Arab news, Asad Umar negated the perception that Pakistan is in need of IMF bailout package.
He said “we are in discussion with them, but this is not to negotiate for a loan. Our purpose is to do our homework, in case we want to approach them at some stage “.
Pakistan need a bailout package of $ 8 billion dollars for survival in the current financial crises but did not give any application for loan to IMF, the sources said.—NNI