Finance Minister Ishaq Dar leaves for the United States.
ISLAMABAD (Dunya News) – Finance Minister Senator Ishaq Dar left Tuesday for the United States (USA) for talks with the International Monetary Fund (IMF) and the World Bank (WB).
According to the details, the finance minister will talk with international lenders for the revision of the microeconomic framework for 2022-23 amid devastating floods in the country.
A Pakistani official has said relaxation of budget deficit and current account deficit targets will be requested. Talks are also expected on the freezing of the Petroleum Development Tax (PDL) and the Fuel Price Adjustment (FPA).
A day earlier, the newly appointed finance minister said on Sunday that Pakistan would honor commitments made to the International Monetary Fund (IMF) to ensure the successful completion of the second program during his tenure.
Pakistan’s central bank also left its key policy rate unchanged at 15% on Monday, a day after Moody’s downgraded Pakistan’s sovereign credit rating by one notch to Caa1 from B3, citing increased government liquidity and downside risks. external vulnerability.
This was the central bank’s first policy decision since this summer’s flooding killed more than 1,700 people and caused an estimated $30 billion in damage.
GDP growth could fall to around 2% in fiscal 2023 compared to the previous forecast of 3% to 4% before the floods, according to the central bank’s statement.
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