IMF lauds ‘considerable progress’, but talks remain inconclusive

The IMF has said that Pakistan has made “considerable progress” on its program, but a staff-level agreement could not be reached as talks on the 2nd review of the ongoing facility ended on Fri (14th Feb’20) and the IMF team has departed the country. A statement released reads that all end-Dec’19 performance criteria have been met and structural benchmarks have been completed, but final agreement on targets for the next few months remain elusive. The IMF has said that steadfast progress on program implementation will pave the way for the IMF Executive Board’s consideration of the review.