The International Monetary Fund (IMF) is set to meet on September 25 to discuss the $7 billion Extended Fund Facility (EFF) for Pakistan. Pakistan had expected to secure this deal in August after meeting the lender’s demands by raising tax revenue targets and energy prices. The country recently completed a $3 billion loan programme in April and received credit rating upgrades from Moody’s Ratings and Fitch Ratings.
IMF spokesperson Julie Kozack confirmed the staff-level agreement with Pakistan in July, leading to the upcoming board meeting. Kozack highlighted the country’s economic stability, growth resumption, disinflation, and increased international reserves. SBP Governor Jameel Ahmad announced securing over $2 billion in external financing from other lenders as the “final hurdle” for the loan.
Prime Minister Shehbaz Sharif expressed optimism about positive negotiations with the IMF and thanked friendly countries for their support. The focus is on reducing debt and achieving financial independence.
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