The country's top financial officials would meet their counterparts in International Monetary Fund (IMF) on Monday in Dubai for policy level dialogue for fifth $1.2 billion tranche of the Fund's Standby Arrangement (SBA). According to sources, IMF and Pakistan's officials would discuss the country's economic performance and targets set for the next six months, besides handing over of fifth instalment.
Finance Minister Shaukat Tarin and State Bank of Pakistan (SBP) Governor Saleem Raza left for Dubai on Saturday night, other SBP and ministry of finance officials are already there, sources said. "Pakistani officials were engaged to prepare ground for policy level talks on country's economic condition comprising monetary policy, current account deficit, government budgetary borrowing, revenue and other economic issues," sources said.
The talks would continue for three days, on February 15 to 17. Pakistan's top financial officials, including Minister Finance Tarin are confident that Pakistan would get the next tranche of SBA on time, without any difficulty.
"Pakistan successfully has met IMF's quarterly targets and we believe that there is no hurdle in the fifth tranche of 1.2 billion dollars," Tarin told Business Recorder before leaving for Dubai.
He said that the country's overall economic situation is improving and current economic indicators are reflecting that Pakistan's economy is growing well as compared to last fiscal year, as current account deficit is on decline and foreign reserves are gradually increasing. GDP growth rate is expected to be 3 percent for the current fiscal year, he added. Sources said that economists are expecting that this programme would be successfully concluded as the country's overall situation is improving.
So far the country has received $6.5 billion from Fund on account of SBA and next instalment of worth approximately $1.2 billion is expected in March 2010 as per agreement with Fund.
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