Pakistani delegation arrives in us for negotiations with Imf on new loan terms

By Asif Ali Awan

| Published Apr 15, 2024 | 10:28 a.m.

WASHINGTON: Pakistan's Finance Minister Muhammad Aurangzeb is leading a delegation that has arrived in Washington D.C, United States to attend the spring meetings of the International Monetary Fund (IMF) and World Bank.

The Pakistani delegation includes the Governor of the State Bank of Pakistan, the Secretary of Finance, the Additional Secretary, and others.

Upon arrival at the airport, Ambassador Masood Khan and officials from the Embassy of Pakistan warmly welcomed

the Finance Minister.

During the visit, the Finance Minister will hold meetings with officials from the IMF and World Bank.

Negotiations between Pakistan and the IMF are planned for next week, according to sources.

Pakistan is expected to request a new loan program from the IMF.

Additionally, the Finance Minister's schedule includes meetings with international media and representatives from think tanks.

Last month, Pakistan and the IMF reached a staff-level agreement on the second and final review of the $3 billion stand-by arrangement, which, upon approval by the IMF's board, will release around $1.1 billion to Pakistan.

The IMF board is anticipated to review the matter in late April, although a specific date has not been confirmed by a spokesperson.