An agreement at the staff level has been reached between Pakistan and the International Monetary Fund (IMF).
Pakistan-IMF Staff Level Agreement
As per the agreement, subject to the approval of the IMF’s Executive Board, Pakistan is set to receive 700 million dollars.
The IMF asserts that all economic targets have been met by Pakistan. There exists a possibility of a decrease in inflation in the upcoming months. Commitment has been made to persist with the market-based exchange rate, leading to a reduction in pressure on the exchange market. Pledged reforms aim to generate investment and employment opportunities.
According to the IMF, economic recovery is ongoing within the program, and with the support of amicable nations, economic stability is being achieved in Pakistan. The implementation of the federal budget has ensured consistency in policies, accompanied by timely adjustments in electricity and gas prices.
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The International Monetary Fund (IMF) states that Pakistan has committed to implementing changes in governmental institutions. Pakistan has also pledged to enhance social support programs.
With an extra 700 million dollars, the sum disbursed by the IMF to Pakistan will total 1.9 billion dollars.
It’s important to note that a standby agreement of 3 billion dollars was established between Pakistan and the IMF.