Pakistan delegation reaches US to negotiate with IMF for fresh loan

Islamabad : A delegation from Pakistan, headed by Finance Minister Muhammad Aurangzeb, has arrived in Washington, DC, to take part in the World Bank and International Monetary Fund's spring meetings, ARY News reported on Monday.

The Pakistani delegation consists of the Governor of the State Bank of Pakistan, the Secretary of Finance, the Additional Secretary, and other individuals.

The Finance Minister was greeted at the airport by Pakistan's Ambassador to the United States, Masood Khan, and Embassy staff.

During his stay in US, the Finance Minister will meet IMF and World Bank officials.

Citing sources, ARY News reported that the negotiations between Pakistan and the IMF are scheduled for next week.

According to sources, Islamabad will request the IMF for a new loan programme.

Last month, Pakistan and the IMF came to a staff-level agreement over the third and final review of the USD 3 billion standby arrangement.

Should the board of the global lender approve this deal, Pakistan will get approximately USD 1.1 billion.

Although a specific date has not been determined, the IMF board is anticipated to evaluate the case in late April.