Islamabad (Commerce Desk) — Due to security concerns, the International Monetary Fund (IMF) has ended its visit to Pakistan earlier than planned. Negotiations for the next $1.2 billion loan installment will now continue online from Turkey.
The IMF mission met with Finance Minister Mohammad Aurangzeb yesterday, after which the mission departed the country. The United States had issued a Level 3 security alert for Pakistan, advising citizens to reconsider travel plans and avoid large gatherings, while certain areas were designated Level 4 and declared off-limits.
According to Pakistan’s IMF representative, discussions on the third review of the Extended Fund Facility and the second review of the Resilience and Sustainability Facility will now proceed virtually. Regional tensions and protests outside U.S. diplomatic missions have complicated the security situation.
At the opening session, Iva Petrova emphasized the need for sustainable reforms and increased revenue to ensure economic stability, highlighting the importance of raising social spending in health and education.
The mission’s abrupt departure led to the cancellation of several meetings, including those on the Sovereign Wealth Fund, the e-procurement system, information exchange with accountability institutions, and the removal of privileges for state-owned and military-owned companies. A session on the performance of the Federal Board of Revenue (FBR) was also postponed.
