Islamabad: Confirming Pakistan’s ongoing financial challenges, the IMF announced a staff-level agreement indicating the nation’s pursuit of its 24th medium-term bailout package. The agreement underscores Pakistan’s commitment to implementing long-term structural reforms for economic stability and growth, as reported by Dawn News.
The agreement, reached during the second and final review of Pakistan’s stabilisation programme supported by a USD 3 billion standby arrangement, positions Pakistan to access approximately USD 1.1 billion by late April, pending approval from the IMF’s executive board.
The IMF outlined key reform areas for the upcoming programme, including fiscal consolidation, energy sector restructuring, inflation management, and promotion of private-led activity. These reforms aim to address Pakistan’s fiscal and external vulnerabilities while fostering sustainable economic growth and resilience.
Read More: Pakistan Seeks 24th IMF Bailout Amid Economic Struggles
Nathan Porter, the IMF mission chief to Pakistan, acknowledged the nation’s progress in economic management but highlighted the need for continued policy efforts to navigate ongoing challenges, including elevated financing needs and inflation rates.
Pakistan’s new finance minister, Muhammad Aurangzeb, has prioritized negotiations with the IMF to address the country’s financial woes, signaling a commitment to fiscal responsibility and stability.
The IMF’s support has been instrumental in preventing a potential default on Pakistan’s external liabilities, underscoring the importance of ongoing collaboration to safeguard the nation’s economic future.
