Islamabad, 10 February 2023 (GNP): IMF’s Memorandum of Economic and Financial Policies (MEFP) about the conclusion of the ninth review of a $7 billion loan program was received by the government, according to Finance Minister Ishaq Dar today. This indicated that a staff-level agreement with the lender was still pending.
The MEFP is a crucial document that outlines all of the requirements, procedures, and policy directives upon which the two parties proclaim the staff-level agreement. The two parties talk about the proposed policy measures after sharing the draught MEFP. After they are completed, a staff-level agreement is signed and sent to the Executive Board of the Fund for approval.
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The IMF group, which left Pakistan Sunday night after having negotiations with the government for 10 days, said that virtual conversations will go on, prompting the minister to make these comments during an early-morning press briefing.
Talks between the government and the IMF took place from January 31 to February 9. There was significant uncertainty regarding the results of the discussions and whether a draught MEFP had been shared as the visiting party departed without making a concluding statement.
