New govt, IMF will hold talks to restore suspended programme on Monday

The new coalition government and International Monetary Fund (IMF) have reportedly agreed to resume talks from the point where it had been suspended in Washington on Monday (tomorrow).

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Top government functionaries may participate virtually in the talks, sources said.

The new government’s reservations will also come under discussion in the new round of talks.

The government sources earlier said that Pakistan will work with the IMF to stabilise the economy.

The dialogue is expected to focus over subsidies, amnesty and new conditions, sources said.

Pakistan will formally announce restoration of the IMF programme after which the IMF will decide about US dollar one billion tranche of the IMF bailout, sources said.

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Prime Minister Shehbaz Sharif’s new government has yet to take decision about the new federal cabinet and the finance minister who will lead Pakistan’s side in crucial talks with the IMF for revival of $6 billion programme that went into jeopardy after former government decreased energy prices, despite an agreement with the lender for the opposite.