The International Monetary Fund (IMF) has sought assurances that the $2 billion deposit from the United Arab Emirates (UAE) will be rolled over for at least one year. Pakithub reported this on Thursday, citing well-placed sources.
During ongoing talks, the IMF delegation raised concerns about the lack of confirmation regarding the one-year rollover of the UAE deposit.
Officials from the State Bank of Pakistan assured the visiting team during the economic review that they would make significant progress on the rollover.
Sources in the Ministry of Finance said a meeting between the IMF delegation and the UAE minister is likely. The meeting aims to secure progress on the issue.
State Bank officials also told the delegation that they are implementing the external financing plan agreed with the IMF. They added that if the rollover remains temporary, the government will continue to explore other arrangements.
The IMF team and Pakistani authorities discussed foreign exchange reserves, monetary policy, exchange rate management, and counter-terror financing measures. They also held technical talks on anti-money laundering frameworks, banking regulations, and other key financial sector reforms.
During the opening session, the Governor of the State Bank and senior management gave a detailed briefing to the IMF delegation.
Sources confirmed that the IMF team will continue its meetings with central bank officials in Karachi for two more days.