Washington DC March 8 2024: IMF stands ready to send a mission to Pakistan after a new cabinet is formed and look forward to working with the government to ensure stability in the country.
“The IMF stands ready, as I said, to send a mission after a new cabinet is formed, and we look forward to working with the government to ensure stability, macroeconomic stability, for the good of the people of Pakistan” states IMF Julie Kozak, Director of Communications.
On January 11, the IMF Executive Board approved the first review of the Stand-by Arrangement with Pakistan, bringing total disbursements under the Stand-by to about $1.9 billion. The SBA supported program underpins the authority’s efforts to stabilize the economy with a strong emphasis on protecting the most vulnerable segments of the population.
“During the period of the caretaker government, the authorities have maintained economic stability through strict adherence to the fiscal targets while protecting the social safety net, maintaining a tight monetary policy stance to control inflation, and continuing to build foreign exchange reserves. And this has been done at the same time as implementing timely adjustments in tariffs to shore up the viability of the energy sector” states the spokesperson.
“The IMF stands ready to hold a mission for the second review of the Stand-by shortly after a new cabinet is formed. The focus, therefore, is currently on completion of the current Stand-by program, which ends in April 2024. We look forward to working with the new government on policies to ensure macroeconomic stability” says Julie Kozak.
