Pakistan, International Monetary Fund inching closer to deal Feb 12, 2019 0 969 12345 dpaIslamabadPakistan and the International Monetary Fund (IMF) are inching closer to striking a deal to help the country overcome a deepening economic crisis, Pakistan’s finance minister said on Monday.“Pakistan is close to finalizing a deal with the IMF,” Finance Minister Asad Umar said on Monday, hours after Prime Minister Imran Khan met IMF Managing Director Christine Lagarde on the sidelines of World Government Summit. “I have witnessed a change in IMF’s position. hopefully we will have a good deal,” Umar said while addressing the business community in the north-west city of Peshawar.Talks with the IMF are likely to resume during the week to finalize an agreement, said Khaqan Najeeb, a spokesman for the Finance Ministry.Pakistan is expecting a bailout package woth up to six billion dollars, a senior finance ministry official said on condition of anonymity.The IMF had asked Pakistan to lessen intervention into its exchange rate, among other demands during inconclusive talks held in November, he said. Pakistan is facing a 12-billion-dollar financing gap for the current fiscal year. The new government, which took over in August, requested a bailout package from the IMF and reached out to “friendly” countries.In October, Saudi Arabia announced it would lend 3 billion dollars to Pakistan’s central bank for a year to help maintain depleting reserves at a safe level and another 3 billion dollars for the supply of oil on deferred payment.Pakistan’s Finance Minister Asad Umar on Monday said that Pakistan and International Monetary Fund (IMF) would soon sign an agreement as the differences have been ironed out. Talking at a gathering here the finance minister said the government will try to ensure this deal with the IMF remains Pakistan’s last bailout from the monetary fund.Referring to tax refunds Umar said the mechanism of refunds has been approved. He said the release of refunds will be started soon. He said the harassment from the FBR would not extend the tax net. According to Ministry of Finance sources, Pakistan and IMF have agreed over the key features of the bailout deal after. POST A COMMENT RELATED ARTICLES Priyanka ‘magic’ draws thousands at debut roadshow in Lucknow Feb 12, 2019 0 237 Bangladesh stops trafficking of more Rohingyas to Malaysia Feb 12, 2019 0 225 Philippine measles death toll hits 70 Feb 12, 2019 0 1086 Acting Pentagon chief visits Kabul, denies troops cut dpa Kabul The acting US Secretary of Defence Patrick Shanahan arrived in the Afghan capital for an unannounced visit on Monday, meeting with top officials from NATO and the government. Shanahan held discussions in Kabul .. Rahul shuts door on BSP-SP alliance, says Cong will contest polls with full might Lucknow: Congress President Rahul Gandhi on Monday virtually shut the doors on the BSP and Samajwadi Party and said that while he respected their leaders Mayawati and Akhilesh Yadav, there should be no doubt that his .. Trinamool links BJP with killing of its party MLA IANS Kolkata Trinamool Congress MP Abhishek Banerjee on Monday blamed the BJP for party MLA Satyajit Biswas’ murder and claimed those who are seeking protection from central leaders in Delhi will be brought back and put .. Chinese woman in trouble after throwing drink at Philippine cop Manila: A Philippine police officer on Monday filed criminal complaints against a Chinese woman who threw a soft tofu drink at him during an argument at an overhead train station in the capital. Police officer William .. EU threatens to end Cambodia’s trade perks on rights record Brussels: The European Union launched proceedings Monday against Cambodia that could see the south-east Asian country lose its preferential trade access to the bloc if it does not improve its record on human rights, .. Toppled Malaysian leader Najib’s 1MDB trial delayed AFP Kuala Lumpur Former Malaysian premier Najib Razak’s trial over a massive financial scandal that contributed to his government’s downfall was postponed Monday, in a blow to slow-moving efforts to bring the .. No one in India can repay cow’s debt, says PM Modi Vrindavan: PM Narendra Modi on Monday said that no one in the country can repay the debt of the cow’s milk, saying the bovine has been an important part of India’s tradition and culture. At a public gathering here, the Prime ..