You are currently viewing IMF mission chief to visit Pakistan on March 26
Ernesto Ramirez Rigo

IMF mission chief to visit Pakistan on March 26

  • Post author:
  • Post category:World
  • Post last modified:19/03/2019
  • Reading time:2 mins read

ISLAMABAD: The mission chief of the International Monetary Fund is expected to arrive in Pakistan on March 26.

Ernesto Ramirez Rigo will hold meetings with Finance Minister Asad Umar and State Bank employees.

The government is hoping for an Rs6 billion bailout package from the new chief.

Pakistan and the IMF are no strangers. Since 1958, they have made 21 agreements for loans.

The IMF is an international organisation of 189 countries working on monetary cooperation and international monetary stability. It helps member countries in three ways:

  • Economic surveillance — monitoring the economic and financial policies of its 189 member countries.
  • Lending — providing loans to member countries facing some degree of economic crises.
  • Capacity building —  modernizing member country economic policies and institutions, and training their people

Pakistan has gone to the IMF repeatedly since the late 1980s. The last time was in 2013, when Islamabad got a $6.6 billion loan to tackle an economic crisis.

M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.