According to recent reports, Pakistan Finance Minister, Abdul Hafeez Shaikh, is supposed to hold talks with the IMF.

During the meet, Finmin would present the early assessment report showing severe impacts of devastated floods over the Pakistan’s economic system.

In a report, the department official said that the floods have demolished over 1.7m hectares (4.25m acres) of land in the country, which will have a major impact on the agricultural field as well as on the economic situation.

While talking to media, the IMF’s regional director, Masood Ahmed said that the department is in search of a mode that helps Pakistan to make recovery in this tough situation.

Talking to BBC, the director said, “The Pakistani economy faces challenges even before these massive floods hit them. And those challenges are still there.”

According to him, the flood would have a huge and lasting impact on the country.

In the meantime, a relaxation of the IMF’s plan for the country cutting its budget deficit in order to qualify for further installments of the loan is likely to be given under the circumstances.