WASHINGTON: The International Monetary Fund (IMF) has announced significant progress with Pakistani authorities on a staff-level agreement.
The IMF team, led by Eva Petrova, visited Karachi and Islamabad from September 24 to October 8, holding discussions on the second review under the Extended Fund Facility (EFF) and the first review under the Resilience Program.
According to the IMF, Pakistan has made progress in maintaining fiscal discipline while providing support for communities affected by recent floods. Officials also discussed measures to keep inflation within the State Bank’s target through careful monetary policy.
Reforms in the energy sector, reducing the scope of state-owned enterprises, and strengthening transparency and governance were also key areas of focus during the talks.
While agreement on budget targets has not yet been reached, both sides have decided to continue negotiations. The IMF has also expressed concern over electricity use for Bitcoin mining and artificial intelligence operations, requesting clarification from the government. Policy-level discussions will continue to address remaining issues.
