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Pakistan

Pakistan committed to IMF programme, Ahsan Iqbal tells lender

  • Planning minister says govt has taken difficult decisions to stabilise the economy
Published July 19, 2022

Minister for Planning and Development Ahsan Iqbal underscored on Tuesday Pakistan's continued commitment to the International Monetary Fund programme (IMF), saying that the current government took difficult decisions as its priority was the economic stability of Pakistan, Radio Pakistan reported.

The minister expressed the commitment during a meeting with IMF's Deputy Managing Director Antoniettee M Sayeh in Washington.

IMF announces staff-level agreement with Pakistan

Iqbal expressed confidence that the IMF will give early approval to the recently approved staff-level agreement.

He also sought the IMF's assistance in the country's agriculture sector, especially to mitigate the impact of climate change.

Speaking during the occasion, the IMF's Deputy Managing Director assured that the international lender will continue to play its role to assist Pakistan in stabilising its economy.

Last week, the IMF team reached a staff-level agreement (SLA) with Pakistan authorities for the conclusion of the combined seventh and eighth reviews of the Extended Fund Facility (EFF), with the agreement now subject to the approval of the Executive Board.

“Subject to Board approval, about $1,177 million (SDR 894 million) will become available, bringing total disbursements under the programme to about $4.2 billion,” said the IMF in its statement last week.

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