Pakistan reforms on track, extra $1.1 bln likely-IMF official

WASHINGTON: Pakistan’s economic reforms are broadly on track and the International Monetary Fund could release an extra $1.1 billion in early December, the IMF’s Pakistan mission chief said on Sunday.

Jeffrey Franks said there had been very good talks with Pakistani officials, including Finance Minister Ishaq Dar and Central Bank Governor Ashraf Wathra, about the economic programme.

“During our discussions, we agreed to combine the fourth and fifth reviews with the view towards holding an IMF Executive Board meeting in early December which could make available two tranches totaling approximately US$1.1 billion,”

Franks said in a statement during the IMF’s annual meetings in Washington.

An IMF mission would meet Pakistani officials in Dubai in late October to undertake the review, he said.

Source: APP