Economy

Mission to visit Pakistan this month for new loan programme, IMF – Business & Economy

by Alexandra Hartman Editor-in-Chief May 6, 2024

The International Monetary Fund (IMF) has announced that a mission will visit Pakistan this month to discuss a new loan program.

According to Reuters, Pakistan completed a $3 billion short-term program last month that helped stave off defaults, but Prime Minister Shehbaz Sharif’s government has stressed the need for a new long-term program. Is.

The IMF said in an emailed response to Reuters on Sunday that it would “meet in May to discuss budgets, policies and reforms for the fiscal year 2024-25 under a potential new program for the well-being of all Pakistanis.” A mission is expected to visit Pakistan’.

</script> <ins class="adsbygoogle" style="display:block; text-align:center;" data-ad-layout="in-article" data-ad-format="fluid" data-ad-client="ca-pub-0928966750491324" data-ad-slot="7023764380"></ins> <script> (adsbygoogle = window.adsbygoogle || []).push({}); </script></div> <p>“The acceleration of reforms is now more important than the size of the programme, which will be guided by the package of reforms and the balance of payments,” the IMF statement said.</p> <p>Pakistan narrowly avoided default last summer and its $350 billion <a data-ail="5992467" target="_self" href="https://www.archyde.com/category/economy/" >economy</a> has stabilized since the end of the last IMF program.</p> <p>Pakistan is still dealing with a fiscal shortfall, while it has controlled its external account deficit through import controls.</p> <figure class="media sm:w-1/3 w-full media--left media--embed media--uneven"> <p> <iframe class="nk-iframe" onload="setInterval(()=>{try{this.style.height=this.contentWindow.document.body.scrollHeight+’px’;}catch{}}, 100)” width=”100%” frameborder=”0″ scrolling=”no” style=”height:400px;position:relative” src=” sandbox=”allow-same-origin allow-scripts allow-popups allow-modals allow-forms”>

Earlier, Finance Minister Mohammad Aurangzeb had said that it is hoped that a new loan program will be agreed with the IMF in May.

Pakistan is expected to discuss at least a $6 billion program and request additional financing from the IMF under the “Resilience and Sustainability Trust”.

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2024-05-06 05:38:35

IMF

Alexandra Hartman Editor-in-Chief

Editor-in-Chief Prize-winning journalist with over 20 years of international news experience. Alexandra leads the editorial team, ensuring every story meets the highest standards of accuracy and journalistic integrity.

Mission to visit Pakistan this month for new loan programme, IMF – Business & Economy

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