IMF Approves $700 Million for Pakistan’s Economic Program
The International Monetary Fund (IMF) has given the green light for the first review of Pakistan’s economic reform plan, leading to an immediate disbursement of $700 million. This brings the total support under the Stand By Arrangement (SBA) to $1.9 billion out of a $3 billion total. Pakistan has already received $1.2 billion from this nine-month program.
This financial boost is crucial for Pakistan’s economic stability, contributing to increased foreign exchange reserves, reduced inflation, and a smaller budget deficit. The government commits to ongoing reforms, focusing on improving tax collection, strengthening the financial sector, and cutting the budget deficit. Another $1.1 billion is expected upon the successful completion of the final economic review, emphasizing a sustained partnership with the IMF for economic growth and better living conditions for the people of Pakistan.