News Column

IMF mission refuses Pakistan visit citing security concerns

January 24, 2014

A review mission of the International Monetary Fund (IMF) has refused to visit Pakistan citing security concerns. An IMF mission was due to visit Pakistan by the end of January for the second review of the economy but finance ministry sources said that the mission has now expressed its inability to visit Pakistan due to recent wave of terrorism in the country, reported a private channel. Sources said that review talks will now be held in Dubai and a team of country's economic managers will fly to UAE to hold talks with the IMF mission. In December, IMF's executive board approved $553 million disbursement to Pakistan under its $6.7 billion loan program that began last year. Under its loan program, IMF periodically sends its review mission to take stock of various economic targets set under the agreement. Islamabad had averted a balance of payments crisis in 2008 after securing an $11 billion IMF loan package, which was suspended two years ago when different economic and reform targets were missed.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Daily Messenger (Pakistan)


Story Tools