- Pakistan will receive USD 700m after approval of Executive Board.
- The IMF said that Pakistan has achieved all economic targets.
- The amount released by IMF to Pakistan will be 1.9 billion dollars.
ISLAMABAD: A staff-level agreement has been reached between Pakistan and the International Monetary Fund (IMF).
According to the agreement, with the approval of the Executive Board of the IMF, Pakistan will receive USD 700 million.
The IMF said that Pakistan has achieved all the economic targets, there is a possibility of a reduction in inflation in the next few months, it has been promised to continue with the market-based exchange rate and the pressure on the exchange market is reducing. The reforms are also promised to create investment and employment opportunities.
According to the IMF, economic recovery is continuing under the program, economic stability is coming to Pakistan with the support of friendly countries, and the implementation of the federal budget has brought continuity in the policies, and timely adjustment in electricity and gas prices.
The IMF said that Pakistan has also promised reforms in government institutions and Pakistan has also promised to improve social assistance programs, and external pressure on the economy from rising energy prices and foreign exchange has eased.
According to the IMF, Pakistan may be affected by external threats, geopolitical tensions rising commodity prices, and the need to continue efforts to emerge due to tough global financial conditions. Strengthening macroeconomic sustainability and increasing a balanced growth rate are the main priorities and reducing public debt for financial stability is also a priority.
With an additional $700 million, the amount released by the IMF to Pakistan will be 1.9 billion dollars.
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