The International Monetary Fund is set to send a mission to Pakistan for the second economic review following the formation of PM Shehbaz Sharif’s cabinet. The focus is on completing the Stand-By Program ending in April 2024. The IMF aims to work with the new government on economic stability, as Pakistan plans to seek a $6 to 8 billion loan program.
ISLAMABAD: The International Monetary Fund (IMF) is ready to send its mission to Pakistan for the second economic review after the formation of PM Shehbaz Sharif’s cabinet, ARY News reported on Friday quoting sources.
The IMF Director of Communications said that the focus currently is on completing the ongoing Stand-By Program, which is ending in April 2024, a mission for the second review of the Stand-By Program will be dispatched immediately after the formation of the new cabinet in Pakistan.
Earlier it emerged that the newly-elected PML-N-led government has decided to avail a fresh IMF loan program, and the Ministry of Finance has initiated actions on the directives of the premier.
Pakistan is likely to seek $6 to 8 billion loan program from the international lender and for this immediate contact will be made with the International Monetary Fund for negotiations.
The sources further said the conditions of the International Monetary Fund would be stricter this time.
Last week, it was reported that Imran Khan-founded PTI asked the International Monetary Fund (IMF) to factor in the country’s political stability in any further bailout talks.
According to international news agency Reuters, PTI has sent a letter to the IMF detailing its position, two senior sources in the party said, adding more details would be made public in due course.
The International Monetary Fund (IMF) has shown readiness to send a mission to Pakistan following the successful formation of the country’s cabinet. This significant development comes at a crucial time for Pakistan’s economy as it strives for stability and growth. The IMF mission’s engagement indicates a potential for constructive collaboration between Pakistan and the international financial community. This move reflects the commitment to addressing economic challenges and fostering a conducive environment for sustainable development. The forthcoming discussions between Pakistan and the IMF are expected to focus on critical economic reforms and policy measures that can bolster the nation’s economic resilience and encourage investor confidence. The IMF’s involvement signals a renewed push for structural reforms and fiscal discipline to pave the way for a prosperous and resilient economy. As Pakistan prepares to engage with the IMF mission, all stakeholders have an opportunity to contribute to the dialogue and drive positive change towards a more stable and prosperous economic future.
Source: ARY NEWS
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The IMF is poised to dispatch a mission to Pakistan for the second economic review following the formation of PM Shehbaz Sharif’s cabinet. The focus is on completing the ongoing Stand-By Program, with Pakistan likely seeking a $6 to 8 billion loan program. The new government’s decision to avail a fresh IMF loan program has initiated actions by the Ministry of Finance. The IMF’s conditions are expected to be stricter this time, and the PTI has requested the IMF to consider the country’s political stability in any further bailout talks.
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