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IMF team due in Islamabad next week
 
January 04, 2013
 
 

ISLAMABAD - International Monetary Fund’s (IMF) team would visit Islamabad next week to examine the Pakistan’s ability of loan repayment and to review the economic situation during the first half (July-December) of the ongoing financial year 2012-2013, sources said on Thursday.Sources informed TheNation that Post Programme Monitoring mission of the International Monetary Fund (IMF) is scheduled to visit Islamabad on January 8th that would review the Pakistan’s capacity to repay the loans. Sources were of the view that IMF would also review the economic situation of Pakistan during July-December period of the year 2012-2013.Sources were of the view that Pakistan might initiate discussion for fresh economic stabilisation programme with International Monetary Fund next week. Sources further said that Pakistan would has no other option than to approach IMF within ongoing year 2013, as country’s foreign reserves are sharply depleting due to heavy repayment to the Fund, as it has repaid $ 2.5 billion to the Fund since February 2011. Meanwhile, Pakistan would have to further repay $ 1.7 billion to IMF till June 2013 that would further deplete the country’s foreign exchange reserves of the country. Pakistan’s total liquid foreign reserves as on December 28 stood at $13,808.1 million, said SBP on Thursday. The State Bank of Pakistan (SBP), in a statement, said the foreign reserves held by the SBP were $ 9,009.4 million and by other banks $ 4,798.7 million.

 
 
on epaper page 12
 
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