IMF urged to reschedule access date to Mar 15 in LoI

ISLAMABAD: The caretaker government has requested the International Monetary Fund (IMF) for rephasing of the access date for the second review to March 15, 2024 in the letter of intent (LoI), instead of the original schedule of March 1, 2024 as per July 2023 documents titled, Pakistan request for a Stand By-Arrangement (SBA).

The 15-day delay sought for rephasing of the access date for the second review to March 15, 2024 in the LoI signed by caretaker Finance Minister Shamshad Akhtar and Governor State Bank of Pakistan (SBP) Jameel Ahmad to allow sufficient time to complete our structural agenda.

The LoI noted that completion of the final review scheduled for March 2024 will require observance of the quantitative performance criteria (QPCs), indicative targets (ITs), and continuous performance criteria (PCs) with end December 2023 test dates and defined in the Technical Memorandum of Understanding.—TAHIR AMIN