The IMF officials highlight the completion of the final review of Pakistan’s Standby Agreement program.
WASHINGTON: (UrduPoint/Pakistan Point News-April 19th, 2024) The International Monetary Fund (IMF) is ready to provide funds on request of Pakistan, its officials confirmed on Friday.
The Fund officials expressed confidence in Pakistan’s economic progress.
These made this confirmation while addressing a press conference to address the economic developments in the middle East and Central Asia on Friday.
The IMF officials highlighted the completion of the final review of Pakistan’s Standby Agreement program.
This program, once approved by the board, is poised to bolster Pakistan’s economy, addressing critical imbalances and ensuring national economic stability.
Emphasizing the importance of sustaining macroeconomic stability and reducing budget deficits, the officials stressed the need to enhance revenue generation to fortify fiscal conditions.
They also underscored the significance of implementing reforms in the energy sector to further enhance the country’s economic resilience.
The IMF stands prepared to assist Pakistan, with funds readily available upon request.
It may be mentioned here that the Pakistan’s bilateral partners are awaiting program approvals to extend further financial support.
