The International Monetary Fund (IMF) has invited a number of renowned economists, academicians and former senior government officials to Washington for consultations on a future roadmap on economic challenges of Pakistan and possibility for extending another bailout package in case Islamabad made a formal request.
“Yes, the IMF has held broad-based informal consultations with eminent economists, academicians and retired senior government officials from Pakistan at Washington and arranged a round table conference during this week by extending special invitations,” an official said, requesting anonymity. 
Pakistan has not yet officially approached the IMF for making any formal request for bailout package.
Pakistan is expecting some dollar inflows from China in shape of safe deposits in order to support its balance of payment but couple of billions could rescue Islamabad for period of couple of months only. It seems that the IMF package is imminent after elections although preparatory talks may kick-start even during the tenure of interim regime. Just ahead of installation of caretaker setup in Islamabad, the Fund invited experts of different sectors at Washington as part of consultation process to learn mistakes from the past programmes and devise such a roadmap that could help Islamabad to overcome its growing economic difficulties.
All programmes of the IMF had failed in achieving the desired objectives and except during the tenure of the outgoing government all other programmes struck down half way when Islamabad was known as ‘one or two tranche country.’ One official told in background discussions that there will be more consultations in Islamabad, Lahore and Karachi.
The IMF, he said, is really worried about rising debt burden especially from Chinese side. Due to bad track record of structural reform, stringent tax reform may be prior action. Standby rather than medium term facility is on cards, he added.
IMF Resident Representative in Pakistan Teresa Sanchez was quoted by The News daily yesterday as saying that it was part of the overall agenda of the IMF to hold consultations with economists, academicians and senior retired government officials for devising future plan that how the problems faced by Pakistan could be solved on long-term basis.
She said that the Article IV (4) consultation would be due in June 2018 and IMF’s mission could visit Islamabad for holding talks provided Pakistan extended invitation to the Fund on this account.




Related Story