Pakistan IMF finally strike $6 billion bailout package
ISLAMABAD - The government has struck a deal with the International Monetary Fund (IMF) on financial packages for about $6 billion, PM’s Adviser on finance Dr Abdul Hafeez Shaikh announced on Sunday.
He said this while speaking to state-run Pakistan Television (PTV).
The staff level agreement on economic policies, which could be supported by a 39-month Extended Fund Arrangement (EFF), is aimed to support Pakistan’s strategy for stronger and more inclusive growth by reducing domestic and external imbalances, removing impediments to growth, increasing transparency, and strengthening social spending, said a statement issued on IMF link official website.
“An ambitious structural reform agenda will supplement economic policies to rekindle economic growth and improve living standards,” the statement read, adding that, “Financing support from Pakistan’s international partners will be critical to support the authorities’ adjustment efforts and ensure that the medium-term program objectives can be achieved.”