IMF Postponed a Board Meeting to Consider the 6th Review of the $6 Billion EFF

According to a spokesperson for the Ministry of Finance, Muzzammil Aslam said in a statement that the International Monetary Fund (IMF) has postponed a board meeting meant to consider the country’s 6th review of the $6 billion Extended Fund Facility (EFF) until the end of January on a request from Pakistani authorities.

As per details, Muzzammil Aslam tweeted that the Finance Division officially requested the IMF to reschedule the meeting of its board of directors for approval of the 6th review till the end of January.

The meeting was slated for January 12 to consider the 6th review to release $1 billion tranche under the three-year $6 billion loan programme.

The spokesperson for the Ministry of Finance, In another tweet hours later confirmed that, “IMF has agreed to reschedule the Finance Division request.”

It must be noted that the government sought postponement of the 6th review to the pass recommended fiscal tightening measures, including the controversial Finance (Supplementary) Bill, 2021, popularly known as mini budget, and State Bank of Pakistan Amendment Bill 2021.

The National Assembly session will start today to take up the bills. On December 30, 2021, Finance Minister Shaukat Tarin introduced the Finance (Supplementary) Bill, 2021 bills in the National Assembly amid fierce resistance from opposition lawmakers.

Finance Division has officially requested the IMF to reschedule the meeting of the Board of Director for the approval of 6th review till end January.

— Muzzammil Aslam (@MuzzammilAslam3) January 10, 2022