KARACHI: The International Monetary Fund (IMF) said on Thursday it would wait for findings of its mission, currently holding talks in Islamabad, for further engagement with Pakistan, which seeks a fresh bailout from the global lender.
The South Asian country, which has been facing low foreign exchange reserves, currency devaluation and high inflation, last month completed a short-term $3 billion IMF program that helped stave off a sovereign default, but the government of Prime Minister Shehbaz Sharif has stressed the need for a fresh, longer-term program.
While Islamabad has said it expects a staff-level agreement by July, both Pakistani and IMF officials have refrained from commenting on the size of the program. The South Asian country is expected to seek around $7-8 billion bailout from the global lender.
An IMF team, led by Mission Chief Nathan Porter, this week met Pakistan Finance Minister Muhammad Aurangzeb, central bank governor, chairman of the Federal Board of Revenue and other officials in Islamabad to kickstart discussions on the country’s further engagement with the lender.
“Right now, a mission team led by Nathan Porter, our Mission Chief, is meeting with the authorities this week to discuss the next phase of our engagement with Pakistan,” IMF spokesperson Julie Kozack said at a press briefing on Thursday, when asked about the status of talks with Pakistan.
“Given that there is a mission on the ground, we will wait for them to complete their work and we will communicate the findings of the mission in due course.”
Pakistan narrowly averted a default last summer and its $350 billion economy has slightly stabilized after the completion of the last IMF program, with inflation coming down to around 17 percent in April from a record high of 38 percent in May last year.
However, the South Asian country is still dealing with a high fiscal shortfall and while it has controlled its external account deficit through import control mechanisms, it has come at the expense of stagnating growth, which is expected to be around 2 percent this year, compared to negative growth last year.
Wall Street Bank Citi expects Pakistan to reach an agreement with the IMF of up to $8 billion program by end-July, and recommends going long on the country’s 2027 international bond.
“While longer-term challenges pertain, we see several positive catalysts supporting the Eurobonds,” Nikola Apostolov at Citi wrote in a note to clients.
“First, a larger and longer IMF EFF (Extended Fund Facility) program could be finalized by July – possibly a $7-8 billion 4-year program and secondly and a possible inflow of Saudi investments,” Apostolov said after a team from Citi visited Pakistan and met policymakers, including Finance Minister Muhammad Aurangzeb.
Citi said it expected Pakistan’s international 2027 bond to offer a sweet spot to investors with sufficient liquidity and large upside as risks of default dissipate further.
IMF to wait for ‘findings’ of mission in Pakistan for further engagement with Islamabad — spokesperson
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IMF to wait for ‘findings’ of mission in Pakistan for further engagement with Islamabad — spokesperson
- An IMF team this week met top Pakistani officials in Islamabad to kickstart discussions on a fresh bailout
- The cash-strapped South Asian country is expected to seek around $7-8 billion bailout from the global lender
Amnesty urges Pakistan to halt deportations of Afghan refugees
- Rights group’s letter to PM Sharif warns deportations violate non-refoulement, expose Afghans to abuse
- Pakistan says it has hosted Afghans for decades with respect, denies mistreatment during repatriation
ISLAMABAD: Amnesty International has urged Pakistan to stop the detention and deportation of Afghan refugees, warning that mass expulsions could expose many to serious human rights violations, according to an open letter the group’s South Asia office posted on X on Friday.
The letter, dated Jan. 1, was addressed to Prime Minister Shehbaz Sharif and comes as Pakistan presses ahead with a multi-phase campaign to repatriate undocumented foreign nationals, most of whom are Afghans who fled decades of war and persecution.
“Amnesty International calls on the Pakistani authorities to halt the deportation of Afghan refugees and ensure that individuals with international protection needs are safeguarded as per international human rights law,” the organization said, warning that the policy violated the principle of non-refoulement, which prohibits returning people to countries where they risk serious abuse.
Amnesty said Pakistan had provided sanctuary to Afghan nationals for decades, but its policy has shifted sharply since the launch of the “Illegal Foreigners Repatriation Plan” in September 2023, describing it as potentially “one of the largest forcible returns of refugees in modern history,” which it said was marked by a lack of transparency, due process and accountability.
The rights group cited data from the United Nations High Commissioner for Refugees, saying arrests and detentions of Afghan refugees had increased tenfold last year, with more than 115,000 cases recorded. It said detainees often had little access to legal representation or family members, and that children were among those arrested.
According to the International Organization for Migration, nearly 1.5 million Afghans have returned since the deportation drive began, with almost half of those returns taking place in 2025 alone. Amnesty said deportations were frequently carried out swiftly, with limits imposed on the money and belongings refugees could take with them.
The group also warned that journalists, human rights defenders, women dissidents and former government officials were being deported despite heightened risks under Taliban rule in Afghanistan, where Amnesty has documented extrajudicial killings, arbitrary detention, torture and severe restrictions on women and girls.
Pakistan has not issued a response to the letter.
However, officials in Islamabad have previously said Pakistan has hosted Afghan nationals for decades with respect, sharing its resources despite limited international support. The Pakistan Foreign Office said last year that mechanisms were in place to ensure no one was mistreated or harassed during the repatriation process.
Pakistan has also claimed that Afghan nationals have remained involved in militancy and crime, though the mass expulsions are widely seen as an attempt to pressure Afghanistan’s Taliban authorities to curb cross-border militant attacks by armed factions targeting Pakistani forces, particularly in Khyber Pakhtunkhwa and Balochistan.
International organizations, including the UN refugee agency, have also urged Pakistan in the past to halt forced deportations and ensure that any returns are voluntary, gradual and dignified.
