The completion of the $3 billion Stand-By Arrangement program with Pakistan is a priority, according to Julie Kozik, Photo: File
Islamabad: The International Monetary Fund (IMF) has expressed its priority to complete the $3 billion Stand-By Arrangement program following the formation of Pakistan’s new cabinet and has pledged to send a mission for the second economic review.
During a press briefing in Washington, IMF Director of Communications Julie Kozik, while avoiding comments on Pakistan’s political situation, said that they are looking forward to working with Pakistan’s new government on policies to ensure economic stability and are willing to work with the government for the betterment of the Pakistani people.
They also stated that the current Stand-By Arrangement is set to expire in April 2024 and that Pakistan has received $1.9 billion under the Stand-By Arrangement so far. The caretaker government had implemented strict financial policies to control inflation and taken measures to ensure social protection.
The Director of Communications said that economic stability was maintained during the caretaker government in Pakistan, actions were taken to achieve financial targets with an increase in foreign exchange reserves, and timely adjustments were made in the energy sector.
Julie Kozik said that completing the $3 billion Stand-By Arrangement program with Pakistan is a priority, and they are prepared to send a mission for the second economic review following the formation of Pakistan’s new cabinet.