IMF mission begins talks in Islamabad as Pakistan seeks next program review

Pakistan’s delegation (right) meets with a visiting International Monetary Fund (IMF) team (left) for formal talks in Islamabad, Pakistan, March 2, 2026. (@Financegovpk/X)
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Updated 02 March 2026
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IMF mission begins talks in Islamabad as Pakistan seeks next program review

  • Finance ministry confirms ‘kick-off meeting’ with visiting IMF delegation
  • Review critical for next tranche under $7 billion bailout program

KARACHI: Pakistan began formal talks with a visiting International Monetary Fund (IMF) delegation on Monday as the country prepares for the next review of its $7 billion bailout program.

The IMF team is in Pakistan to conduct a review under the Extended Fund Facility (EFF) approved in September 2024, a multi-year program aimed at stabilizing the economy after a balance-of-payments crisis, high inflation and dwindling foreign exchange reserves.

Pakistan has so far received roughly $3 billion of the EFF. Successful completion of the latest review could pave the way for the release of the next tranche of funds, subject to IMF board approval.

Separately in 2024, Pakistan also secured about $1.3 billion under the IMF’s Resilience and Sustainability Facility, a climate-focused funding window aimed at strengthening the country’s capacity to manage environmental and disaster-related risks.

“Kick-off meeting with IMF Mission held today,” the finance ministry said on Monday as it shared visuals of Finance Minister Muhammad Aurangzeb and senior officials meeting the delegation in Islamabad.

IMF country representative in Pakistan, Mahir Binici, told Arab News in an emailed statement; 

“An IMF mission led by Ms. Iva Petrova has started discussions with the authorities in Karachi and Islamabad on the third review of Pakistan’s Extended Fund Facility (EFF) arrangement and the second review of the Resilience and Sustainability Facility (RSF).”

The discussions are expected to focus on Pakistan’s fiscal performance, revenue collection targets, structural reform implementation and broader macroeconomic stability measures agreed under the program.

The review comes at a sensitive time for Pakistan’s economy, with rising global oil prices and regional instability adding pressure to inflation and external accounts. Analysts say continued IMF engagement remains crucial for maintaining investor confidence and securing external financing.

Pakistan entered the IMF program to restore macroeconomic stability, strengthen public finances and rebuild foreign exchange reserves. Authorities have repeatedly described the reform agenda as necessary to ensure long-term economic resilience.

Further meetings between technical teams are expected over the coming days.


Pakistani man convicted in US in political assassination plot tied to Iranian paramilitary

Updated 07 March 2026
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Pakistani man convicted in US in political assassination plot tied to Iranian paramilitary

  • Asif Merchant, 47, worked for Pakistani banks for decades before going into clothing and other businesses
  • He testified he met a Revolutionary Guard operative who gave him countersurveillance training, assignments

NEW YORK: A Pakistani business owner who tried to hire hit men to kill a US politician was convicted Friday in a trial that showcased allegations of Iran-backed plotting on American soil.

As the Iran war unfolded in the Mideast, Asif Merchant acknowledged in a US court that he sought to put an assassination in motion during the 2024 presidential campaign — a plot that was quickly disrupted by American investigators before it had a chance to proceed.

A jury in Brooklyn convicted Merchant on terrorism and murder for hire charges.

The verdict after only a couple hours of deliberations followed a weeklong trial that included remarkable testimony from Merchant himself.

Merchant told the jury he was carrying out instructions from a contact in the Islamic Republic’s powerful paramilitary Revolutionary Guard. According to Merchant, the handler never specified a target but broached names including then-candidate Donald Trump, then-President Joe Biden and Nikki Haley, the former UN ambassador who was also in the race for a time.

The Iranian government has denied trying to kill US officials.

The nascent plot fell apart after Merchant showed an acquaintance what he had in mind by using objects on a napkin to depict a shooting at a rally. He asked the man to help him hire assassins. Instead, he was introduced to undercover FBI agents who were secretly recording him, as had the acquaintance.

Merchant told the supposed hit men he needed services that could include killing “some political person” and paid them $5,000 in cash in a parked car in Manhattan.

“This man landed on American soil hoping to kill President Trump — instead, he was met with the might of American law enforcement,” US Attorney General Pam Bondi said in a statement released after the conviction.

Merchant’s attorney, Avraham Moskowitz, didn’t immediately reply to a message seeking comment.

Merchant, 47, worked for Pakistani banks for decades before going into clothing and other businesses. He has two families, in Pakistan and Iran, and he sometimes visited the US for his garment business.

Merchant testified that he met a Revolutionary Guard intelligence operative about three years ago. The contact gave him countersurveillance training and assignments including the assassination scheme, Merchant said.

He maintained that he had to do his handler’s bidding to protect loved ones in Iran. The defendant said he reluctantly went through the motions but thought he’d be arrested and explain his situation to authorities before anyone was killed.

“I was going along with it,” he said, speaking in Urdu through a court interpreter.

Prosecutors emphasized that Merchant admitted taking steps to enact the plan on behalf of the Revolutionary Guard, which the US considers a foreign terrorist organization, and he didn’t proactively go to authorities.

Instead, he was packing for a flight to Pakistan when he was arrested on July 12, 2024, a day before an unrelated attempt on Trump’s life in Butler, Pennsylvania. Officials said it appeared the Butler gunman acted alone but that they had been tracking a threat on Trump’s life from Iran, a claim that the Islamic Republic called “unsubstantiated and malicious.”

When Merchant subsequently spoke to FBI agents to explore the possibility of a cooperation agreement, he didn’t say he had acted out of fear for his family.

Prosecutors argued that he didn’t back up a defense of acting under duress. Merchant sought to persuade jurors he simply didn’t think the agents would believe him because they seemed to “think that I am some type of super-spy,” which he said he was “absolutely not.”