ISLAMABAD (INP) - The IMFs programme of $11.3billion for Pakistan formally ended on Friday here, as the PPP-led regime failed to draw the last two trenches of $3.4 billion because of its inability to implement promised measures. Official sources told media that despite the governments efforts, the IMF Managing Director and World Bank President refused to meet Pakistani delegation during their stay in Washington DC for recently concluded annual spring meeting of Breton Wood Institutions (WBI). Since 1958, Pakistan has obtained total 18 loans out of which 13 ended on unsuccessful note including this last Standby Arrangement (SBA), which was approved by the funds executive board on November 24, 2008, with financial size of $7.6billion. The loan was augmented to $11.3 billion during the tenure of former Finance Minister Shaukat Tarin. Sources said this augmentation was done on false premises that the government would be able to mobilise revenue to repay the loan. We will have to go back to the IMF programme sooner or latter, said an official. The economic wizards of the country expect the current account deficit to remain in the range of one to two percent of GDP during the current financial year. So they do not think they will need to go to IMF anytime soon. He said the economic managers decided not to seek the remaining two trenches of the loan, which totalled $3.4billion, knowing that they remained unable to keep fiscal deficit in check and introduce tax and power sector reforms. Pakistan has to repay $1.2billion to the IMF as principle and interest payments in two instalments very soon. The countrys foreign currency reserves might decline in the range of $500 million to $2 billion from the existing level of over $17.5billion.