Pakistan-IMF Talks Take Off In Doha

M Ashraf Siddiqui

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18/05/2022

Economy

Doha, 18 May 2022

Bilateral talks between Pakistan and IMF delegates took off this morning at the Hotel Hilton Doha.

Closed doors meeting physically is attended by total six members of delegates from both sides and is learned that Pakistani Minister Miftah Ismail has joined online from Pakistan.

Both sides will have policy level discussions to revive the programme, extend its tenure and size to $8 billion.

Miftah Ismail is expected to join the physical meeting near closing day.

It is not yet confirmed whether Pakistan's Finance Minister Miftah Ismail will be meeting to his Qatari counter part and other officials during his visit to Qatar.

The development comes amid a delay in finalisation of new loan deals with Saudi Arabia, China and the United Arab Emirates (UAE).

Pakistan is awaiting a rollover of $2.3 billion Chinese commercial loan. Another $1 billion Chinese deposit is maturing this and the next month.

China has now placed a condition for the renewal of its $2.3 billion loan, which Pakistan returned in March on the hope of getting it back in April but still remains undisbursed.

The sources said China wanted that its loans could not be used for any purpose and should only be treated as part of the reserves because of Pakistan’s weakening financial situation.

The government has requested that the loan money should at least be allowed to use for making payments against Chinese imports. The sources added that the decision was pending.

No dates for Prime Minister Shehbaz’s maiden visit to China have been announced but the possibility of visual contact between the heads of the two governments was being explored, said the sources.

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