Islamabad: The International Monetary Fund (IMF) and Pakistan have reached a staff-level agreement on a 37-month Extended Fund Facility Arrangement (EFF) worth approximately seven billion dollars, setting the stage for substantial economic reforms and fiscal stabilization.
According to Ministry of Information and Broadcasting, the agreement, pending approval from the IMF’s Executive Board, is designed to underpin the Pakistani authorities’ efforts to enhance macroeconomic stability and foster conditions conducive to robust, inclusive, and resilient economic growth. The program focuses on critical areas such as enhancing fiscal and monetary policies, broadening the tax base, improving management of State Owned Enterprises, promoting competition, ensuring equitable investment opportunities, boosting human capital development, and expanding social protection measures through the Benazir Income Support Program.
The IMF highlighted the importance of sustained financial backing from Pakistan’s international development and bilateral partners as vital for the successful realization of the program’s goals.