The International Monetary Fund (IMF) has issued a statement regarding Pakistan’s bailout package. The announcement said that the first installment of one billion dollars has been released to Pakistan.
The announcement of the meeting of the Executive Board of the IMF was issued, the Executive Board approved 7 billion dollars under the Extended Fund Facility for Pakistan.
According to the announcement, the Executive Board has released an immediate installment of nearly $1 billion for Pakistan and the new loan program is for 37 months.
The IMF said that Pakistan’s economic growth rate has reached 2.4 percent while inflation has declined, but Pakistan still faces a number of major challenges, including a difficult business environment, weak governance, and limited investment. Tax base included.
IMF approves $7 billion bailout package for Pakistan
According to the announcement, the new loan program aims to restore macroeconomic stability and improve public service delivery through public sector reforms, while also focusing on infrastructure development and combating the effects of climate change. is
Continued financial support from development partners will be critical to the success of the program, the IMF added. Important steps have been taken.