The IMF denies government officials an extension to declare their holdings.

The request for an extension in government officials’ asset declarations was denied by the International Monetary Fund (IMF).

Important talks were held between representatives of the Cabinet Division, Prime Minister’s Office, Ministry of Finance, and Ministry of Law and an IMF technical delegation.

Sources said consultations have begun on the draft for asset declarations as the amended draft of the Civil Servants Act will be shared with the global lender in February.

They added that legislation related to asset declarations could only take place after February while IMF has demanded the Ministry of Finance to meet the benchmarks as per the set conditions.

The Act’s modifications will require disclosure of the spouse’s assets, the educational institutions attended by children, and the sources of household income.

According to sources, the legislation will also require government personnel to exchange information about power of attorney.

Additionally, the IMF delegation has been asked by pertinent Ministry of Finance authorities to make this information more widely available to the public.