ISLAMABAD – International Monetary Fund program for Pakistan would be thebiggest ever for Pakistan in its entire history, it has been reported.
IMF bailout could be valued at $15 billion, the Institute of InternationalFinance (IIF) said in a report.
According to the report, IIF expects an agreement on a three-year IMFprogram of $15 billion by end of this year.
The rupee’s 24% depreciation since end of 2017 may have eliminated most ofthe overvaluation, the institute stated.
Fiscal adjustment, monetary tightening, and a greater exchange rateflexibility will be integral to the new program, it said.
Finance Minister Asad Umar on Saturday said the government will have totake difficult decisions that would be painful for people but necessaryunder international commitments to get out of the current severe economicsituation.