FM for talks with IMF to fly US tomorrow

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GMT - 3 Hours FM for talks with IMF to fly US tomorrow

Post by εﺓз• » ιη∂αġι яσ¢χ « • on Thu Sep 15, 2011 2:59 pm

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ISLAMABAD: Federal Finance Minister, Dr. Abdul Hafeez Sheikh will be leaving for US tomorrow for talks with the IMF officials on its new stand-by programme, Geo News reported.

Source privy to the ministry said that the new stand-by programme aims at easing the payments on the foreign loans during the next fiscal year. IMF delegation would be visiting Pakistan in May for further talks on the new programme.

Sources said that in case of successful finalization of the new programme, the payment of the last two installments of the existing programme could be revoked and merged with the new one or these could be deposited next year as repayment of the IMF loan.

The last two installments amounting to $3.40 billion under the IMF existing stand-by programme are still outstanding.
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