An International Monetary Fund (IMF) mission has reached Pakistan for economic review talks on the next installment of the loan programme.

According to Finance Ministry sources, the IMF mission is currently in Karachi, which will start negotiations with State Bank officials from today.

In the first phase, there will be technical talks with State Bank officials, in which State Bank officials will brief the mission on economic performance.

Sources say that a briefing will be given on foreign exchange reserves, monetary policy, imports and foreign exchange. Pakistan has achieved the target of having foreign exchange reserves of more than 17 billion dollars.

The technical talks with the IMF delegation will discuss the current account deficit, increase in foreign direct investment and a briefing on the successful issuance of Eurobonds.

The IMF will also be briefed on the funds received from external sources.

The IMF delegation will leave for Islamabad on September 25 after talks with the Central Bank.

The IMF delegation will also hold talks with provincial governments and the business community, while formal talks with the IMF will begin on September 28 after the finance minister’s return from the US.

The IMF mission will hold talks with Finance, Privatization, Ministry of Energy and FBR officials.