UPDATE 1-IMF wraps up talks with Pakistan authorities on reforms, budget

The International ​Monetary Fund mission concluded talks ​with Pakistani authorities on ‌Wednesday, focusing on ​economic developments, fiscal plans for the next financial year, and progress on reforms under ‌the country's IMF-supported programmes, the fund said in a statement. The IMF said Pakistani authorities have committed to a primary surplus target of 2% of ‌gross domestic product in fiscal year 2027.

The International ​Monetary Fund mission concluded talks ​with Pakistani authorities on ‌Wednesday, focusing on ​economic developments, fiscal plans for the next financial year, and progress on reforms under ‌the country's IMF-supported programmes, the fund said in a statement.

The IMF said Pakistani authorities have committed to a primary surplus target of 2% of ‌gross domestic product in fiscal year 2027. * The fund's team, led ‌by advisor Iva Petrova, visited Islamabad from May 13-20 for discussions that focused on economic developments, progress on reforms and the impact of disruptions linked to the conflict ⁠in ​the Middle East.

* ⁠The IMF earlier in May cleared the South Asian nation to access about $1.32 ⁠billion in fresh funding. The country is on a $7 billion IMF program. * ​Pakistan's central bank has committed to maintaining an "appropriately tight monetary ⁠policy stance" to anchor inflation expectations and will continue to closely monitor potential second-round ⁠effects ​from energy price increases, the IMF said.

* Talks on the fiscal 2027 budget are set to continue in the coming days, ⁠the fund added. * The IMF said its next mission, which will ⁠include consultation and ⁠reviews under certain arrangements, is planned for the second half of 2026.