The Ministry of Finance has described as misleading and factually incorrect a news itempublished in a section of the press suggesting that tough prior actions [are] needed for IMF's$452 million third tranche
Islamabad (Pakistan Point News / Online - 17th February, 2020) The Ministry of Finance has described as misleading and factually incorrect a news item published in a section of the press suggesting that tough prior actions [are] needed for IMF's$452 million third tranche.In an official statement issued here, the Ministry of Finance has stated that it is completelynormal for quarterly reviews to sometimes take a few days more than planned, which must neverbe viewed as something extraordinary; the second and third quarterly reviews will be presentedbefore the IMF board separately as planned; no decision has been taken as to any prior actions;China is Pakistan's iron brother and there is no apprehension whatsoever on the roll-over/refinancing of Chinese loans.
The article in question is equally ill-conceived in trying to portray that only a miracle can save theIMF program. The press statement issued by the IMF on Friday explains that:"The IMF staff team had constructive and productive discussions with the Pakistani authoritiesand commended them on the considerable progress made during the last few months inadvancing reforms and continuing with sound economic policies," and that "[a]ll end-Decemberperformance criteria were met, and structural benchmarks have been completed."The Finance Division would like to make it very clear that the Government's reform programsupported by the IMF's Extended Fund Facility is on track.