Ishaq Dar expects IMF deal in next 24 hours
LAHORE: Finance Minister Ishaq Dar said a staff-level agreement for a crucial bailout deal with the International Monetary Fund (IMF) was “very close” and expected in the next 24 hours. Pakistan is racing against time to unlock at least $1.1 billion under the lender’s ninth review of a $6.5-billion Extended Fund Facility (EFF) agreed in 2019. The programme expires on Friday. “We are very close to signing a staff-level agreement with the IMF,” minister Ishaq Dar told Reuters late on Thursday. “I think it should come some time tonight or maximum within 24 hours. We have finalised everything.” A source familiar with talks told Reuters that Pakistan and the global lender were also in discussions for the release of the full $2.5 billion pending under the IMF programme. The source said the staff-level agreement was to set to initially unlock around $1.1 billion and then be followed by a “standby agreement” which could release the rest after the programme finishes on Saturday. A repres...
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