The Director of Communications at the International Monetary Fund (IMF), Julie Kozack, revealed during a press briefing in Washington that the Executive Board Meeting concerning Pakistan is anticipated to take place by the conclusion of April.
Kozack elaborated on the developments, stating, “Pakistan and the IMF have reached a staff-level agreement on March 19, signaling an improvement in the country’s economic situation.” She further disclosed that Pakistan is slated to receive a total of $3 billion in accordance with the standby arrangement, of which $1.9 billion has already been secured.
The agreement follows the culmination of a week-long visit by an IMF team to Islamabad, concluding on March 19, and underscores the IMF’s commendation for Pakistan’s central bank and the outgoing caretaker government for their robust program implementation. The IMF expressed optimism that the incoming government would sustain these efforts to stabilize the economy.
Emphasizing the continuity of policy efforts, Kozack underscored the commitment of the new government to uphold the policies initiated under the current Stand-By Arrangement, aimed at fortifying economic and financial stability throughout the remaining duration of the year.
In June of the previous year, the IMF had greenlit a pivotal nine-month arrangement with Pakistan, designed to bolster its economic stabilization program
