You are here: Home » News-IANS » Diplomacy
Business Standard

IMF may delay Pakistan visit as bailout talks continue

IANS  |  Islamabad 

The visit of an (IMF) mission to for finalising a package for may be delayed as both sides are still engaged in an intense discussion on the proposed programme, sources told Dawn news.

said earlier this month that the mission would visit soon after the spring meetings of the World Bank Group, which includes the IMF and an agreement should be signed by the end of this month.

The meetings, held in this week, ended on Sunday.

At a news briefing in on the night of April 11, Umar said the two sides had "more or less, reached an understanding" on the package and "in a day or two, we hope to reach a full agreement".

But it seems that "both sides are still engaged in an intense conversation on the final details of that full agreement", an source told Dawn on Sunday. "So, the IMF mission is now more likely to visit in May, not April."

Another familiar with the Pakistan-IMF talks said: "Islamabad still hopes to conclude the agreement before June, as they believe the package would help budget prospects."

When asked how much money did expect from the IMF, a source said: "The amount and length of the programme also depends on the nature of the package.

"If the conditions are too restrictive, would expect a larger package, i.e. more assistance for a longer period."

The IMF has also insisted on full disclosure of all financial cooperation between Pakistan and China, including assistance related to infrastructure development, nuclear power plants, of fighter jets and procurement of submarines.

It is also demanding details of more than $6.5 billion of commercial loans Pakistan has received from in the past two and a half years.

--IANS

ksk

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 15 2019. 09:52 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU