Following the delay in the staff-level agreement with the International Monetary Fund (IMF), Pakistan has decided to seek US help for the revival of the stalled loan programme, ARY News reported, citing sources.
Sources within the Finance Ministry familiar with the development said that the incumbent government has decided to seek Washington’s help as the majority of the demands of the fund have been completed. “There is no need for further delay in the staff-level agreement”, ARY news reported. They further say Finance Minister Ishaq Dar will talk with the US envoy this week. It has been learned that there are chances of a staff-level agreement between Pakistan and the IMF this week. The virtual talks are also scheduled on Monday with the International Monetary Fund, ARY news reported. Sources further claimed that officials from the State Bank of Pakistan and IMF had held talks on Thursday. They discussed the points finalised in the Memorandum of Economic and Financial Policies. The IMF had asked Pakistan to implement demands before reaching a staff-level agreement for the revival USD 7 billion Extended Fund Facility (EFF) stalled for months.