ISLAMABAD: The International Monetary Fund (IMF) and Pakistan have failed to strike a staff-level agreement under a $6 billion Extended Fund Facility, or bailout package, Pakistani media reported on Sunday.
In 2019, Pakistan reached an accord with the International Monetary Fund for a three-year, $6 billion bailout package aimed at shoring up fragile public finances and strengthening a slowing economy.
Pakistani and IMF officials are currently engaged in a fresh round of talks from October 4 to 15 for the release of a $1 billion tranche of the loan.
“The talks failed despite Pakistan having implemented a prior condition of increasing electricity and petroleum products prices,” the Express Tribune newspaper reported. “However, both sides have shown resolve to remain engaged.”
“The IMF team remains engaged with our Pakistani counterparts on moving forward our work agenda and we are looking forward to our continued discussions with the Pakistani authorities on the set of policies and reforms that could form the basis for the completion of the 6th review under the EFF,” Teresa Dabán Sanchez, the outgoing resident representative of the IMF, told The Express Tribune.
This is the second time Pakistan and the IMF could not find “basis for the completion of the 6th review.,” The first attempt was made in June.
Pakistan fails to strike agreement with IMF for release of $1 billion loan tranche
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Pakistan fails to strike agreement with IMF for release of $1 billion loan tranche
- Pakistan reached an accord with IMF for three-year, $6 billion bailout package in 2019
- Pakistani and IMF officials are currently engaged in fresh around of staff-level talks in Washington
Rain delays Pakistan-New Zealand Super Eights clash in Colombo
- Pakistan won the toss and opted to bat before showers halted play
- Fakhar Zaman returns as both teams seek early advantage in Group 2
ISLAMABAD: Pakistan’s Super Eights clash against New Zealand at the Twenty20 World Cup was delayed by rain in Colombo on Saturday after captain Salman Ali Agha won the toss and elected to bat first.
The Group 2 encounter at the R. Premadasa Stadium marks the start of the tournament’s second phase for both sides, with Sri Lanka and England also in the group. The match was scheduled to begin at 6:30 p.m. Pakistan time, but persistent showers prevented the start of play.
“Rain delays the start of the match,” the Pakistan Cricket Board (PCB) said in a post on X.
Pakistan made one change from their final group-stage fixture, recalling Fakhar Zaman in place of Khawaja Nafay. New Zealand brought back regular captain Mitchell Santner along with Ish Sodhi and Lockie Ferguson.
Earlier in the week, Pakistan sealed their place in the Super Eights with a 102-run win over Namibia after posting 199-3, while New Zealand also advanced after finishing second in their group.
The second phase of the tournament began without former champions Australia, who failed to qualify, while Zimbabwe topped Group B with an unbeaten campaign.
With rain continuing in Colombo, officials were monitoring conditions to determine whether a shortened contest would be possible.
A washout would see both teams share points, potentially affecting semifinal calculations in the tightly contested group.
With input from AP
