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| Finance Minister will go to Washington to attend IMF and World Bank meetings |
Finance Minister will go to Washington to attend IMF and World Bank meetings.
Pakistan Web Desk
Finance Minister Ishaq Dar will visit Washington next week to attend the International Monetary Fund (IMF) and World Bank meetings.
Finance Minister Ishaq Dar will go to Washington next week to attend the annual meeting of the Breton Wood Institutions and will make formal requests to the IMF and the World Bank on the sidelines to revise the targets from October 10 to 16.
Pakistan will formally request a revision of the macroeconomic framework for the current fiscal year 2022-23, requesting relaxation of targets for rising inflation, declining GDP growth, budget deficit, and current account deficit.
According to a senior Pakistani official, the IMF will also be asked to ease conditions attached to the Expanded Fund Facility (EFF), including freezing the petroleum levy and electricity fuel price adjustments for the next few months.
The revision of the macroeconomic framework will be called for in the wake of severe floods this fiscal year that have wreaked havoc and cost Pakistan's struggling economy more than $30 billion in construction costs.
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