Pakistan’s Prime Minister, Shehbaz Sharif, has emphasized that the country’s real success lies in eliminating its debt, not just securing another loan.
He made this statement in response to the International Monetary Fund (IMF) approving the final loan tranche of $1.1 billion for Pakistan. The Prime Minister praised his financial team for their efforts and believes that this loan will bring more economic stability to the country.
The IMF’s Deputy Managing Director, Antoinette Sayeh, highlighted the positive developments in Pakistan’s economic indicators. She urged Islamabad to continue with sound macroeconomic policies and structural reforms. Meanwhile, Pakistan has formally requested the IMF for the next bailout package, which is expected to range between $6 to $8 billion. The details of this package will be determined in May 2024.