ISLAMABAD – International Monetary Fund (IMF) on Saturday hinted that Pakistan might receive potential funding to address the climate change challenges.
The IMF held the negotiations on climate reform agenda during discussions on the $7 billion loan program review as well as on climate financing.
The statement further mentioned that talks covered debt repayment management, reducing costs in the energy sector, improving the energy industry, increasing economic growth and enhancing public health.
The IMF also discussed promotion of education, strengthening social protection, and mitigating the impacts of climate change in Pakistan.
The IMF acknowledged that Pakistan strictly adhered to the current loan program, and discussions with Pakistan remained positive.
Both parties would continue virtual talks to finalize the negotiations.
Additionally, the statement highlighted that the significant progress was made toward a staff-level agreement and that Pakistan diligently implemented the loan program’s conditions.
The IMF said that Pakistan took strict economic measures to reduce the government debt, adopted a tight monetary policy to curb inflation, introduced reforms to lower electricity production costs, and implemented an agenda to boost economic growth.
It may be mentioned here that the final round of talks between Pakistan and the IMF took place on Saturday during which Pakistan officials expressed hope that despite concerns in three areas, the IMF mission would recommend the release of the loan tranche.
IMF, Pakistan make ‘significant progress’ towards staff level agreement for next tranche
