By Ahmed Mukhtar Naqshbandi
ISLAMABAD: An International Monetary Fund (IMF) delegation will visit Pakistan at the end of the January to hash out the ninth review of its funding program.
IMF Resident Representative in Pakistan Esther Pérez Ruiz said that the visit of the delegation of the financial body is scheduled from 31 January to 9 February, to discuss the ninth Extended Fund Facility (EFF) review with Pakistani officials, local media reported on Thursday.
Islamabad is dealing with a severe financial crunch as the foreign exchange reserves with the State Bank of Pakistan (SBP) have fallen to just 3.678 billion dollars after it was down by $923 million.
Government needs IMF to avert default risk
The government is nearly totally reliant on the IMF funding program to avert the default risk.
Esther Pérez Ruiz said that the delegation would focus on several policy areas during their meetings with officials in Pakistan.
It will focus on policies to restore internal as well as external sustainability, including to consolidate the fiscal position with high-quality and durable measures while assisting the vulnerable and flood-hit people.
She said that stronger policy measures and reforms are required to reduce the prevalent uncertainty that affected the outlook.
