Julie Kozack, the International Monetary Fund’s (IMF) Director of Communications, announced that the IMF Executive Board will likely meet to discuss Pakistan’s situation by the end of April.
During a press briefing in Washington, Kozack revealed, “A staff-level agreement was reached with Pakistan on March 19. Since then, Pakistan’s economic condition has seen improvement.” She also confirmed that Pakistan is set to receive $3 billion under a standby arrangement, with $1.9 billion already secured.
In recent developments, the IMF finalized a staff-level agreement with Pakistan for the last review of a $3 billion financial support package last month. This followed a week-long visit by the IMF team to Islamabad, ending on March 19.
The IMF lauded the efforts of Pakistan’s central bank and its outgoing caretaker government for their robust implementation of the agreed program, expressing hope that the incoming government will uphold the economic stabilization measures.
Kozack emphasized the new government’s dedication to maintaining the policy initiatives begun under the current Standby Arrangement, aiming to solidify economic and financial stability throughout the year. This announcement builds on the IIMF’s June approval of a nine-month plan to assist Pakistan’s economic stabilization efforts.
