The International Monetary Fund (IMF) has confirmed its commitment to collaborating with Shehbaz Sharif’s newly elected government in Pakistan. Julie Kozek, IMF Director of Communications, emphasized the organization’s dedication to finalizing the current standby arrangement as a priority and expressed eagerness to cooperate with the new Pakistani government to ensure economic stability.
During a press conference in Washington, Kozek announced that the IMF is prepared to dispatch a mission for the second economic review following the formation of Pakistan’s new cabinet. The existing standby arrangement is set to conclude in April 2024.
Although Julie Kozek refrained from commenting on Pakistan’s political situation, she commended the caretaker government for maintaining economic stability. Notably, the IMF’s focus remains on economic matters, and it is poised to engage constructively with the upcoming administration.
Read More: https://www.economy.pk/pakistan-set-to-initiate-crucial-talks-with-imf-in-the-coming-week/
Reports suggest that the newly-elected PML-N-led government has decided to pursue a fresh IMF loan program. The Ministry of Finance has initiated actions in line with the premier’s directives, anticipating negotiations with the IMF for a loan program ranging from $6 to $8 billion.
It is worth noting that the terms and conditions set by the IMF are expected to be more stringent this time, indicating a rigorous evaluation process for the loan program. As Pakistan seeks financial support from the international lender, the negotiations will likely play a crucial role in determining the economic path and conditions for the country in the coming years.
