KARACHI, Pakistan :An International Monetary Fund mission will visit Pakistan later this month to discuss the stalled ninth review of the country's current funding programme, the lender's resident representative said on Thursday, with the cash-strapped nation's economy in turmoil.Pakistan secured a $6 billion
KARACHI, Pakistan :An International Monetary Fund mission will visit Pakistan later this month to discuss the stalled ninth review of the country's current funding programme, the lender's resident representative said on Thursday, with the cash-strapped nation's economy in turmoil.
"At the request of the authorities, an in-person Fund mission is scheduled to visit Islamabad January 31st – February 9th to continue the discussions under the ninth EFF review," Esther Perez Ruiz said in a message to Reuters. Multilateral and bilateral financing pledges for Pakistan's effort to rebuild after devastating floods last year are also tied to the country getting the green light from the IMF.
It will also look to discuss re-establishing a market-based mechanism to determine the value of the Pakistani rupee, she said. Such a mechanism is a key prior action for the country to receive IMF support, but which it had fallen short of until this week.
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