ISLAMABAD: The staff-level agreement, between the government’s finance team and the International Monetary Fund (IMF) – aims to address Pakistan’s economic challenges – has not made any progress so far, ARY News reported on Tuesday, citing sources.
Sources within the Ministry of Finance revealed that the finance delegation was not able to address concerns of IMF related to external financing and the national budget.
After the unsuccessful negotiations with the IMF, the Finance Minister, Ishaq Dar, recently held meetings with ambassadors from various countries. During these meetings, the Minister briefed the ambassadors on the current state of negotiations with the IMF, seeking their input and potential support.
READ: Bloomberg warns Pakistan of economic default amid no IMF deal
Based on the Finance Minister’s recommendation, the ambassadors of these countries will engage in talks with the IMF.
Sources indicate that the finance minister is set to resume discussions with the IMF, aiming to overcome the existing impasse. Time is of the essence, as the current agreement between Pakistan and the IMF is set to expire in a mere 10 days.
