Talks between Pakistan, IMF mission go virtual amid regional volatility |
Talks between Pakistan, IMF mission go virtual amid regional volatility
ISLAMABAD: The ongoing talks between an International Monetary Fund (IMF) staff mission and authorities in Islamabad had to be converted to virtual mode on Monday due to the regional situation following the attack on Iran by the United States and Israel.
The IMF mission, led by Iva Petrova, had to immediately relocate to Istanbul following an advisory issued by the money lending agency’s headquarters, disrupting a series of sectoral meetings planned for the day.
The remaining schedule of meetings, however, will remain intact and will progress through video link between Islamabad and Istanbul.
“An IMF mission led by 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). Discussions will continue to be held virtually,” the Fund said in a statement.
Earlier in the day, the two sides had a kick-off meeting presided over by Finance Minister Muhammad Aurangzeb. The two sides broadly touched upon the emerging regional security situation but were equally uncertain about how the crisis would play out and for how long.
The two sides said they would closely monitor the evolving situation and discuss contingency measures as the engagements progressed.
The Fund’s mission began discussions with the State Bank of Pakistan and the business community in Karachi on February 25.
The formal kickoff meeting took place on Monday, which will be followed by further technical engagements with relevant ministries and entities until this weekend. Meetings will then progress to policy-level talks early........