IMF Managing Director Praises Pakistan’s Economic Progress
During a recent IMF Executive Board meeting, Managing Director Kristalina Georgieva commended Pakistan for its positive economic trajectory. Georgieva congratulated the government and citizens of Pakistan for implementing significant reforms that have led to improved growth in the country.
She highlighted the successful presentation of Pakistan’s reform program to the board for a loan program, emphasizing the government’s efforts to provide relief to the less fortunate. The IMF Executive Board approved a 37-month Extended Fund Facility (EFF) arrangement of US$7 billion for Pakistan, with an initial installment of US$1.1 billion set to be received by September 30.
This financial assistance aims to support Pakistan’s economic stability and growth by addressing key policy goals such as sustainable public finances, reduced inflation, and strengthened external buffers. The loan carries an interest rate below 5 percent, further indicating the IMF’s confidence in Pakistan’s economic potential.