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Tuesday November 29, 2022

IMF to 'sympathetically' consider targeted assistance for poor in ninth review

The IMF said it will consider sympathetically targeted assistance for poor and vulnerable

November 18, 2022
A file photo of the IMF.
A file photo of the IMF.

ISLAMABAD: The International Monetary Fund (IMF) has agreed to sympathetically consider targeted assistance for the poor and vulnerable in the ninth review of the Fund's deal for the country, the Ministry of Finance said Thursday.

According to the statement issued by the Finance Division, Pakistan and the IMF will "expeditiously" finish their technical engagement as part of the ninth review of Pakistan's bailout programme.

Federal Minister for Finance and Revenue Ishaq Dar held a virtual meeting with IMF Mission Chief for Pakistan, Nathan Porter.

"Engagement at the technical level shall be expeditiously concluded for proceeding with the 9th Review," the finance ministry said in a brief statement issued in this regard after the meeting.

The IMF indicated its willingness to "sympathetically view" the targeted assistance for the poor and vulnerable, especially flood affectees, according to the statement, which added that it would firm up estimates for humanitarian assistance and priorities for rehabilitation expenditure.

The IMF board in August approved the seventh and eighth reviews of Pakistan's bailout programme, allowing for a release of over $1.1 billion.