Shaukat Tarin returns to Washington as talks between govt and IMF progress for $6 billion loan

Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin returned to Washington to join the on-going discussion with the International Monetary Fund (IMF), his spokesperson Muzzammil Aslam announced in a tweet.

IMF latest update: Mr. Shaukat Tarin, Adviser to the Prime Minister on Finance, has returned to Washington DC to join ongoing discussions with IMF. Media reports related to inconclusive talks are baseless. @FinMinistryPak

— Muzzammil Aslam (@MuzzammilAslam3) October 19, 2021

The director of IMF Middle East and Central Asia Department, Jihad Azour stated that the talks between IMF and the Pakistan government for the six billion dollars Extended Fund Facility (EFF) had progressed towards a “very good step”, reported Dawn.

Earlier this week, while in New York, Tarin rejected a media report which claimed that the talks [earlier this month] have failed because of differences over a macroeconomic framework and uncertainty over the country’s economy.

The advisor said, “Some people have created an impression in Pakistan that we have failed, and the talks have been unsuccessful. That is completely false.”

“We are working on final details and in a few days, you will see the talks moving towards success. Give us some time and we will fix it”, he said, while adding that he and his team are committed to fixing Pakistan’s economy.

Pakistan and the IMF held their latest talks in the US capital from October 4 to 15 for the release of a one billion dollars tranche from a six billion dollars extended loan facility, which was approved in 2019.

Recently, the rupee hit a record low of 173.20 against the US dollar.