IMF resumes talks with Pakistan on financial assistance

The International Monetary Fund (IMF) has resumed talks with Pakistan to continue helping the country, which is on the brink of default, Report informs referring to TASS.

Negotiations began in Islamabad at the level of experts. They are expected to last 10 days.

According to the publication's sources in the country's Ministry of Finance, the consultations that have begun are the most difficult of those held by the parties so far. During the talks, the parties will discuss the ninth revision of the expanded financing program, as a result of which Islamabad can receive IMF loans in the amount of $1 billion.

Islamabad intends to seek the fund's agreement with the Pakistani government's new plan, which provides for the gradual and over a longer period of time fulfillment of the conditions of the creditor to continue financial assistance in order to avoid shocks to the economy and the population.

The IMF has not yet reacted to Pakistan’s new roadmap and is seeking to force it to proceed with the immediate implementation of all conditions, despite the critical state of the country’s economy and inflation, which is 25%.

Earlier, Prime Minister Shehbaz Sharif announced his readiness to comply with the requirements of the fund, which provide for the abolition of existing government subsidies for fuel and electricity, as well as bringing tariffs for them in line with world prices and market rates.