Despite both sides describing their first face-to-face meeting in four months as “positive,” Pakistan and the International Monetary Fund (IMF) did not announce a breakthrough in their negotiations on Monday, as was evident from the lack of a date announced for the mission’s crucial visit to Islamabad.
The meeting’s goal was to come to an agreement on the steps that would guarantee the talks for the 9th program review.
Surprisingly, the finance ministry tweeted that Ishaq Dar, the finance minister, and Nathan Porter, the IMF mission chief, ““discussed challenges to regional economies in the wake of climate change”.
The news agency was informed by sources in Geneva that Pakistan would need to take certain actions before the IMF dispatched a staff-level delegation.
The IMF delegation was scheduled to visit Pakistan for program negotiations in three days, as stated in last week’s announcement by Prime Minister Shehbaz Sharif, but that time frame has already gone.
According to the finance ministry, Dar and Porter met during the International Conference on Climate Resilient Pakistan in Geneva.
They also “discussed challenges to regional economies” as a result of climate change, it was stated.
“The finance minister reiterated the commitment to complete the Fund program,” it said.
Dar was not supported at the IMF negotiations by anyone from the finance ministry.
Instead, Economic Affairs Secretary Kazim Niaz and Economic Affairs Minister Sardar Ayaz Sadiq were present. The IMF is the focus of the Finance Division according to the business’s rules.
Thanos Arvanitis, the deputy head of the IMF’s Middle East and Central Asia department, was quoted by Reuters as stating, “I do not have any statements to make, but it was a good meeting.”
The IMF team would soon visit Pakistan, according to a Pakistani representative, but Pakistan would need to demonstrate progress on issues that had already been discussed.
According to a person familiar with the conversations, “The IMF team does not make any fresh demands.”
A presidential ordinance to impose taxes is already being promulgated by the administration.
The Federal Board of Revenue (FBR) experienced a tax shortfall of Rs. 218 billion in December.
To read our blog on “Delegation of IMF to meet Ishaq Dar in Geneva,” click here.
