IMF’s Pakistan mission chief holds initial meeting with finance minister

ISLAMABAD (Reuters) – The International Monetary Fund’s Pakistan mission chief Nathan Porter held an initial meeting with the country’s finance minister in Islamabad on Tuesday, the finance ministry said in a statement.

The unscheduled visit of the IMF mission chief comes four months ahead of the first review under the new $7 billion Extended Fund Facility (EFF) granted to the country by the global lender in September.

The chiefs of Pakistan’s central bank and federal board of revenue also attended the meeting besides other officials from both the sides, the statement said.

The visit is unusual and comes months ahead of the first EFF review which is due in the first quarter of 2025.

The ministry and the IMF have not officially released details of the visit.

Sources in the finance ministry said the Nov 11-15 visit will discuss recent developments and program performance to date, adding the mission was not part of the first review.

The sources declined to be identified as they were not authorised to speak with the media.

Pakistan has been struggling with boom-and-bust economic cycles for decades, leading to 22 IMF bailouts since 1958.