US: Pakistani Nationals Protest Outside IMF & World Band HQ In Washington, Request Not To Grant Loan To Pak Govt; VIDEO

US: Pakistani Nationals Protest Outside IMF & World Band HQ In Washington, Request Not To Grant Loan To Pak Govt; VIDEO

The International Monetary Fund (IMF) mission was scheduled to arrive in Pakistan to conduct an economic review on Wednesday

Rahul MUpdated: Friday, March 15, 2024, 02:26 PM IST
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Pakistanis in the United States are holding a protest outside International Monetary Fund & World Bank headquarters in Washington. Requesting them not to grant loans to Pakistan. Pakistanis democratically enjoying Iftaar outside the World Bank & IMF. There were posters showcased of Pakistan Army Generals.

IMF's Visit Pakistan To Review Economic Condition

The International Monetary Fund (IMF) mission was scheduled to arrive in Pakistan on Wednesday to conduct an economic review of the USD 3 billion Stand-By Arrangement (SBA), reported news agency ANI.

According to the report by ANI, the review discussions will be happening from March 14 to 18. Muhammad Aurangzeb, the newly-elected Finance Minister, has agreed to engage in talks with the IMF to secure the agreement and a new loan program.

Financial Agenda For IMF Talks In Pakistan

It has been disclosed that Pakistan has already met the targets set by the IMF for the second review.

Simultaneously, Pakistan will also seek a new deal under the 36-month Extended Fund Facility (EFF) during the negotiations, with reports suggesting a request for a USD 6-8 billion fresh loan program.

According to ANI, the Finance Ministry indicate that Islamabad will work with the IMF to define economic objectives for the new loan program.

IMF Expresses Readiness For 2nd Economic Review

Earlier, on March 8, the IMF expressed readiness to dispatch a mission to Islamabad for the second economic review post the formation of Prime Minister Shehbaz Sharif's cabinet. The IMF Director of Communications highlighted that the current priority is the completion of the ongoing Stand-By Program, set to conclude in April 2024, according to ARY News.

Additionally, a mission for the second review of the Stand-By Program will be sent promptly after the formation of Pakistan's new cabinet.

With Inputs from ANI

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