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Pakistan to continue bailout talks with IMF

IANS  |  Islamabad 

The government has said that talks with the (IMF) on a package will continue over the weekend as the two parties are yet to reach an agreement, the media reported on Saturday.

Late Friday night, the said only that "we have made good progress in our discussions with the visiting IMF mission. Consultations will continue over the weekend", Dawn news reported.

The talks were originally planned to conclude on Friday and the IMF mission had confirmed return flights to late in the night. Those have presumably been modified.

An informed source said a steep monetary adjustment and fiscal realignments were the key sticking points holding back a final outcome and the IMF had not changed its stance since October last year.

The IMF delegation had arrived in on May 1. The package is likely to range between $7-$8 billion.

Sources said the IMF mission wants to commit to an upfront adjustment plan along with 'deep-rooted' and wide-ranging structural reforms to secure the

This adjustment, according to the IMF, should be supported by major increases in and and quick recovery plan for bleeding public-sector entities and explanations to some 'untouchable expenditures'.

--IANS

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

First Published: Sat, May 11 2019. 11:52 IST
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