WASHINGTON: The schedule for talks between Pakistan and the International Monetary Fund (IMF) has been readjusted but the negotiations are continuing, official sources in Washington say.

Media reports, however, claim that the talks that were scheduled to begin last week have been postponed till the third week of November.

According to these reports, the talks would resume after Pakistan fulfilled its pledge to adjust sales tax on petroleum products and took other measures required under a loan agreement revived earlier this year.

But official sources, who spoke to Dawn, said the talks were rescheduled after last month’s release of a World Bank report on flood damages in Pakistan.

The damage, loss and needs assessment calls for “building back better”, based on the principles of the poor first, transparency, inclusion and climate resilience. The assessment estimates total damages to exceed $14.9 billion, and total economic losses to reach about $15.2bn.

Dismissing the claim that the talks have been postponed due to differences between Pakistan and the IMF, the sources pointed out that the Fund lauded the government’s policies during a meeting last month between IMF Deputy Managing Director Antoinette Sayeh and Finance Minister Ishaq Dar in Washington.

Published in Dawn, November 13th, 2022