Pakistan has been asked to present a repayment plan for a $3.7 billion loan to the IMF in June and show more vigorous support from friendly nations to meet the commitment. However, the IMF has not agreed to a proposal to trade reserves equal to two months’ revenues, valued at $11 to$12 billion.
The government has imposed Rs. 170 billion in taxes through a mini-budget to secure an agreement with the IMF. Pakistan is only included in any agenda on May 17 for IMF board meetings. Funding from international financial institutions is available without a staff-level agreement, which could impact the budget-making process.
