ISLAMABAD: A delegation from the International Monetary Fund (IMF) arrived in Islamabad on Monday on five-day visit to discuss the financial bailout plan with the economic team of Pakistan.
IMF Director for Middle East and Central Asia Jihad Azour is leading the delegation expected to hold talks with senior members of the Pakistan Tehreek-e-Insaf government.
According to reports, the IMF has so far released around $1 billion of the promised $6 billion bailout plan finalized back in July. A formal review of the implementation of the bailout is expected later in November.
The IMF delegation will meet Prime Minister Imran Khan, Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh, Federal Minister for Economic Affairs Hammad Azhar, and Federal Minister for Planning, Development and Reforms Khusro Bakhtiar.
The ministers will brief the visiting delegation on the economic situation of the country. Last week, the IMF had said that Pakistan needed to increase its tax revenue in order to fund development.
In a press briefing, IMF Director Communications Gerry Rice said, “One of the key elements of the program that the IMF is supporting in Pakistan, Pakistan’s program, is the need to mobilise domestic tax revenue to fund much needed social and development spending while placing debt on a firm downward trend.”
