ISLAMABAD: The International Monetary Fund (IMF) mission has expressed satisfaction with a briefing provided by State Bank of Pakistan (SBP) officials as part of the fourth review of Pakistan’s economic programme.
According to sources, the IMF mission, which had been in Karachi for the past three days, will reach Islamabad today to begin formal negotiations with Pakistan’s economic team. Policy-level talks are scheduled to begin on Monday.
During its stay in Karachi, the IMF mission held meetings with SBP officials and the Sindh government. The Sindh government briefed the mission on its contribution to the federal government’s surplus budget.
Officials informed the IMF that Sindh’s tax revenue stood at Rs593 billion as of June 30, while its non-tax revenue more than doubled to over Rs80 billion during the period.
Sources said SBP officials also briefed the IMF mission on the country’s economic performance. The mission expressed satisfaction with the briefing.
The central bank officials provided updates on foreign exchange reserves, monetary policy, imports and the foreign exchange market. They informed the mission that Pakistan had achieved its target of maintaining foreign exchange reserves above $17 billion.
The SBP officials also briefed the IMF on developments regarding the current account deficit and an increase in foreign direct investment, sources said.
