Officials confirm that prior to releasing the next tranche of $1bn with its Extended Fund Facility, Islamabad must settle five pending reform measures. Negotiations with IMF officials are to be held on September 25; the remaining issues are privatisation measures and anti-corruption policy reports. According to government sources, they are scambling to complete paperwork to prevent a funding shortfall that will disrupt overseas accounts.
The IMF has emphasised that when structural action is to be taken, it is important that it is done at the right time so that the disbursements are resumed and confidence in the market is regained. The program will either get stuck in negotiations or proceed with it.
