ISLAMABAD: Federal Minister for Finance Miftah Ismail Tuesday said that Pakistan has received the draft Memorandum of Economic and Financial Policies (MEFP) from the International Monetary Fund for the combined 7th and 8th reviews. 

The minister made the announcement on Twitter.

“Early this morning, the Government of Pakistan has received an MEFP from the IMF for combined 7th and 8th reviews,” he tweeted.

The draft MEFP is a prerequisite for paving the way for moving towards striking a staff-level agreement.

Now Pakistan has received this document which will be analysed and scrutinised by the whole economic team for three days and then the finance minister and the governor State Bank of Pakistan (SBP) will sign it if they find no major problem in it.

The MEFP is basically the crux of decisions negotiated between the two sides as it includes policy actions and structural benchmarks agreed between the two sides.

More to follow.