Finance Minister Asad Umar revealed that IMF talks with Pakistan are is in the final stage.
IMF talks with Pakistan are now entered into the final stage as revealed by Finance Minister Asad Umar. He said that settlement is done of almost all the issues relating to the signing of an agreement.
Asad Umar said they are very close to each other and there is no fundamental difference. He further added that there were some issues related to the timing and sequence. On the other side, the main issue of how to reduce current account deficit had also been sorted out. Now there was no issue with unbridgeable differences.
Finance Minister said that at present the IMF was engaged in summer meetings with the World Bank and soon after the meetings, its mission would visit Pakistan to finalise the bailout package. He further added that the IMF program usually lasted for 3 years and it will disburse loan to Pakistan in three tranches.
“If the IMF sanctioned $6 billion package, Pakistan would get $2 billion during the current year and in case $9 billion, it would receive $3 billion as first tranche,” he said.