IMF resumes loan program with Pakistan, Pakistan will get 1.17 billion
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Rehabilitation program will help manage Pakistan's economy, Pakistan must adhere strictly to the current budget
IMF resumes loan program with Pakistan, Pakistan will get 1.17 billion. According to details, an agreement has been reached between Pakistan and the IMF for a loan program.
The rehabilitation program will help manage Pakistan's economy. The International Monetary Fund has also praised Pakistan's economic reform program.
According to the International Monetary Fund, an additional 4.2 billion will be provided under the expansion program, to 7 billion by June next year.
The 7th and 8th joint review issues have been settled under the IMF, with an additional 4.2 billion to be provided under the expansion program, the IMF statement said.
According to the IMF statement, the amount will be increased to 7 billion by June next year, but the IMF board will give final approval to the agreement.
The statement said that Pakistan needs to maintain a consistent supply-demand exchange rate, along with a proactive monetary policy and improve the performance of government agencies.
Delays in global inflation and important decisions have reduced Pakistan's foreign exchange reserves, and the economy has grown so fast due to excess demand that there has been a huge deficit in foreign payments.
The International Monetary Fund (IMF) said in a statement that 1.17 billion would be available to Pakistan, but that Pakistan would have to adhere strictly to the current budget.
On the other hand, Federal Finance Minister Miftah Ismail has said that an agreement has been reached between Pakistan and the IMF. Finance Minister Miftah Ismail said in a statement on Twitter that Pakistan would soon receive 1.17 billion for the seventh and eighth reviews.
The Finance Minister further said that he was grateful to the Prime Minister, his fellow ministers, secretaries and especially to the Finance Division for providing assistance and cooperation in this regard.