Pakistan needs to ‘do more’ for double IMF payout

Additional prior actions include passage of budget as agreed with IMF, ensuring Rs750bn provincial surplus
• Officials say toughest part of stabilisation exercise already completed

ISLAMABAD: Pakistan will have to take at least two more “prior actions” to secure two combined tranches of about $1.85 billion from the International Monetary Fund (IMF) by the end of July or early August.

Top government sources said these prior actions — which will be in addition to a series of structural benchmarks for the performance review — would be necessary for the Fund’s executive board to approve the merger of the seventh and eighth quarterly reviews of the 39-month, $6bn loan programme that originally began in July 2019.

Finance Minister Miftah Ismail announced on Tuesday that Pakistan had received the Memorandum of Economic and Fiscal Policies (MEFP) from the IMF for the combined seventh and eighth reviews.

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