The IMF Executive Board meeting has been scheduled for September 25, during which the approval of the loan program for Pakistan will be reviewed.
According to IMF spokesperson Julie Kozack, a 37-month staff-level agreement between Pakistan and the IMF was finalized in July 2024.
In a briefing, the IMF spokesperson stated that Pakistan has secured the necessary financial assurances from development partners required for the successful implementation of the nine-month Stand-By Arrangement in 2023, which is subject to the Board’s approval.
The spokesperson added that “due to consistent policy-making, stability has returned to Pakistan’s economy, and especially signs of economic growth are being observed.”
It is worth noting that in this IMF Board meeting, the approval of the loan program for Pakistan will be reviewed.
During his address at the federal cabinet meeting on Thursday, Prime Minister Shehbaz Sharif said that talks with the IMF are progressing positively.
He hoped that once this program concludes, steps will be taken to boost economic growth.
The State Bank of Pakistan announced a 2% reduction in the interest rate on Thursday from 19.5% to 17.5%.
