Pakistan, IMF fail to agree on MEFP

Pakistan and the International Monetary Fund (IMF) have not finalised the Memorandum of Economic and Financial Policies (MEFP) for the completion of the Sixth Review under the $6 billion Extended Fund Facility (EFF). The government has found itself in a very tough situation concerning the international money lender’s situation. There are risks attached for Pakistan either with or without the IMF loans. For one, the State Bank of Pakistan’s foreign currency reserves decreased by $1.6 billion in the last two weeks as Pakistan had paid $1 billion on maturity of…

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