Ishaq Dar will travel Washington to join meetings of the IMF and WB.
A group headed by Dar will attend the forthcoming Breton Wood Institutions yearly spring conference.
Dar might make new recommendations to the IMF and WB for supplying dollar infusions.
The prospect of merging the remaining 10th and 11th evaluations under the $6.5 billion EFF would also be discussed by Pakistan and the IMF.
ISLAMABAD: From April 10 to 16, the Breton Wood Institutions (BWIs), also known as the International Monetary Fund (IMF) and the World Bank, will hold their yearly spring conference in the US under the leadership of Finance Minister Ishaq Dar.
The finance minister may submit new ideas to the IMF and World Bank for supplying dollar outflows, along with a formal team that includes the directors of the Finance and Economic Affairs Division and the governor of the State Bank of Pakistan (SBP).
In case the upcoming 9th Review is finished, Pakistan and the IMF may also consider merging the remaining 10th and 11th reviews under the $6.5 billion Extended Fund Facility (EFF) plan during the meetings, according to a story in The News.
The IMF program, which was inked in 2019, will conclude on June 30, 2023, and it cannot be extended past that date in accordance with the established rules.
When the 10th Review has already been postponed, it is unclear how the two parties will continue with finishing the bailout plan.
The ongoing 9th Review was slated to conclude in December 2022, and the 10th Review was supposed to begin in February 2023. On May 3, the 11th Review was supposed to start.
The expense of resolving the issue would rise as a result of the 9th Review’s delayed ruling.
There is no simple remedy for Pakistan’s failing economy, and the government believes they have made all the difficult choices necessary to restart the stalled IMF plan.
Now, the Fund is requesting confirmation from Pakistan’s bilateral allies Saudi Arabia, the United Arab Emirates, and Qatar about whether they would offer an extra $6 billion in aid through the end of June 2023.