The International Monetary Fund (IMF) has scheduled Pakistan’s case for review at its upcoming executive board meeting on September 25, where a new $7 billion loan package will be discussed.
Pakistan has secured assurances from development partners to cover a $2 billion financing gap, a crucial step towards securing the IMF deal. The IMF had earlier announced the inclusion of Pakistan in its agenda for the meeting.
Finance Minister Muhammad Aurangzeb expressed optimism about the approval of the bailout package, stating that negotiations with the IMF have concluded without any issues.
He acknowledged the efforts of Prime Minister Shehbaz Sharif’s team, IMF officials, and other key institutions in reaching this stage.
Aurangzeb also noted that the State Bank of Pakistan’s recent decision to lower the policy rate would stimulate investment and business growth, creating job opportunities and further stabilizing the economy.
