ISLAMABAD: A mission from the International Monetary Fund (IMF) arrived in Islamabad today, Monday, for the first review of a $7 billion bailout program, according to a Pakistani official and widespread reports in local media.
Islamabad secured the $7 billion Extended Fund Facility (EFF) last summer as part of an economic recovery plan.
Pakistan’s economy had stabilized and now needed to focus on export-led growth, the finance minister said last week as he confirmed the IMF delegation’s visit from March 3-14.
Pakistan’s consumer price index (CPI) inflation rate, maintaining a downward trend on Monday, hit a more than 9-year low at 1.51 percent year-on-year in February.
A Pakistani…
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