Web Desk (LTN NEWS): According to the announcement of the IMF, the extension of the loan program has been approved until June 2023, the loan program for Pakistan has been increased from 6 billion dollars to 6 and a half billion dollars.
The International Monetary Fund (IMF) issued a statement regarding Pakistan’s debt program. It has been said in the IMF statement that an installment of $1.10 billion has been approved for Pakistan.
The IMF statement said that Pakistan’s economy faces challenges, Pakistan must reduce energy losses and increase tax revenue.
According to the IMF statement, Pakistan will have to ensure a market-based exchange rate, sustainable development can be ensured by improving the business environment and increasing interest rates is a good measure to control inflation.
In the IMF statement, it is said that Pakistan has to improve the security in the social sector and the efficiency of government-owned enterprises.
According to the IMF statement, the government of Pakistan has taken important steps to improve the deteriorating financial and external conditions, and the implementation of the recently approved budget should be a priority.
The IMF has predicted that Pakistan’s economic growth rate will be 3.5% this fiscal year.
Apart from this, the IMF insisted on continuing the implementation of the market-based exchange rate policy and predicted Pakistan’s economic growth rate of 3.5% for the current fiscal year.
According to the IMF, there is a possibility of a 6% increase in unemployment in Pakistan in the current financial year, while the government expenditure can be 17.1% of the GDP during this period.
In the IMF statement, it has been said that by the end of this financial year, Pakistan’s foreign exchange reserves can be up to 16 billion 22 crores, while the inflation rate in Pakistan can be up to 19.9%.
It should be noted that yesterday the Executive Board of the International Monetary Fund (IMF) approved the staff level agreement with Pakistan.
The Executive Board of the International Monetary Fund met to approve the Staff Level Agreement with Pakistan. The IMF board approved the release of approximately $1.17 billion to Pakistan and this loan amount will be transferred to Pakistan by the IMF this week.
Reviving IMF program eliminated Pakistan’s risk of bankruptcy: PM
Prime Minister Shehbaz Sharif says that the restoration of IMF program is a positive development for Pakistan’s economy.
The Prime Minister further said that thanks to Allah Almighty, Pakistan has come out of the difficult economic test red-faced. The IMF program is a stage but the goal of Pakistan is economic self-reliance.
Shehbaz Sharif further said I congratulate Finance Minister Miftah Ismail and his team for reviving the program. I pray that this is the last program of the IMF. Pakistan will never need it in the future. I am optimistic. Like the previous government of, once again, the IMF will be called God Hafiz.
The Executive Board of IMF approved the Staff Level Agreement with Pakistan. The Executive Board of the IMF met to approve the Staff Level Agreement with Pakistan.
The IMF board approved the release of approximately $1.17 billion to Pakistan and this loan amount will be transferred to Pakistan by the IMF this week.
Asad Umar’s reaction to deal with IMF
Pakistan Tehreek-e-Insaf leader Asad Umar has reacted to the approval of the agreement by Pakistan by the International Monetary Fund. The Executive Board of IMF Fund met to approve the Staff Level Agreement with Pakistan.
The IMF board approved the release of approximately $1.17 billion to Pakistan and this loan amount will be transferred to Pakistan by the IMF this week.
In response to the agreement with the IMF, Asad Umar said that “now these shameless people are congratulating the nation that an agreement has been reached with the IMF”.
IMF Increases size of loan by 934 million dollars: Ishaq Dar
Former finance minister and PML-N leader Ishaq Dar says the approval of the IMF program will help in financing from bilateral and multilateral development partners.
Ishaq Dar said in his statement that the IMF has also approved the extension of the EFF program till June 2023. He said that the IMF has also increased the volume of loans for Pakistan by 934 million dollars.
