WASHINGTON – International Monetary Fund (IMF) officials said that Pakistan’s economy is moving towards the improvement, and when Pakistan needed, the funds would be provided.
The IMF officials said that the Standby Agreement program’s final review has been completed, and it would now be presented for board approval.
They made these remarks while addressing a press conference on the economic situation in the Middle East and Central Asia on Friday.
The officials mentioned that after the Stand-By Arrangement, Pakistan’s economy is moving towards improvement.
The IMF program would help Pakistan mitigate severe economic imbalances and maintain national economic stability. It’s essential to sustain macroeconomic stability and reduce the level of budget deficits.
They emphasized on improving revenue situation to strengthen fiscal conditions, allowing the government to handle the debt situation. They stated that further improvement can be brought in the project to provide social assistance through IMF, and more work is needed in the energy sector for reforms.
They further added that IMF is ready to assist Pakistan, and when Pakistan requests, funds will be provided.
Pakistan’s bilateral partners are also awaiting the approval of programs to provide additional financial assistance.
