Dr. Reza Baqir says that Pakistan gained a three-year $6 billion IMF bailout program in 2019 but now its 2nd review approved.
ISLAMABAD: (UrduPoint/Pakistan Point News-Jan 11th, 2021) Pakistan was trying to bring International Monetary Fund’s (IMF) to put the fiscal support program back on track, State Bank of Pakistan (SBP) Dr Reza Baqir said in an interview to Reuters on Monday.
Dr Reza Baqir said that he was hopeful about the economic outlook despite the fallout from the coronavirus pandemic.
“Pakistan gained a three-year $6 billion IMF bailout program in 2019 but now its 2nd review approved,” said Reza Baqir.
He said the 2nd review was pending for last year.
The SBP Governor said that there would soon be a good news for the market and the world that they are bringing the program back on the track.
Pakistan and IMF reached an agreement last year for a disbursement of $450 million in IMF funds pending approval from the global lender’s executive board which has yet to happen.
There was no disagreement on the end goal between the two sides, Baqir said, adding that Pakistan needed to increase its low tax to GDP ratio.
