Ninth review: IMF wants to take closer look at Pakistan’s spending on flood relief efforts
Global lender the International Monetary Fund (IMF) wants to take a closer look at the money being spent by Islamabad towards flood affected people in the country even as it promised to take a sympathetic view towards such expenditure as it gears up for a review of the country’s economy and implementation of an ongoing loan program.
This was discussed on Thursday between Federal Finance Minister Senator Ishaq Dar and IMF Pakistan Mission Chief Nathan Porter in a virtual meeting.
The two discussed the current status of the program, and how far Pakistan had come on implementing conditions for the extended fund facility.
Expenditure on the recent floods and their impact on the macroeconomic framework and annual goals were also discussed.
The IMF stated it was would take a sympathetic view to the targeted support provided to the poor and vulnerable people, particularly those affected by flooding.
However, Islamabad was told to consolidate its cost projections for the ongoing fiscal year’s flood-related humanitarian aid as well as the projected costs of the most urgent rehabilitation.
In this regard, it was decided to expedite the technical engagement ahead of the impending ninth review for the ongoing IMF program.