The International Monetary Fund (IMF) Director of Communications has endorsed the government’s actions and indicated that the loan program could be approved during the Executive Board meeting on September 25.
Pakistan has successfully convinced the IMF, as the approval of Pakistan’s loan program has been added to the agenda of the Executive Board meeting on September 25.
IMF Director of Communications Julia Kozik confirmed this, stating that the Executive Board meeting on September 25 is expected to approve the new loan program for Pakistan.
According to Kozik, negotiations with Pakistan were completed in July, focusing on a new $7 billion loan program.
On the other hand, Finance Minister Mohammad Aurangzeb, in a statement regarding the IMF agreement, said that all matters with the IMF have been resolved smoothly. He expressed gratitude to Prime Minister Mohammad Shehbaz Sharif’s team, the IMF negotiation team, and relevant institutions for their key roles in the final stages.
He added that these matters will be finalized in the IMF Board meeting this month, and after stabilization, the economy is set to move towards growth. A reduction in the policy rate is expected to boost investment and business activities, leading to increased job opportunities. The trend of declining inflation is starting to provide relief to the common people.
