Islamabad, Finance Minister Muhammad Aurangzeb has expressed optimism about finalizing a new agreement with the International Monetary Fund (IMF) next month. The new arrangement aims to bring permanence to macroeconomic stability and provide a framework for much-needed structural reforms in Pakistan.
According to Ministry of Information and Broadcasting, in an interview with British news agency Reuters, Aurangzeb revealed that the government is pursuing a longer-term loan from the IMF to achieve these goals. He mentioned that the IMF mission is expected to be in Islamabad around the middle of next month to work on the agreement.
The Finance Minister noted that once the IMF loan is finalized, Pakistan plans to request additional financing from the Fund under the Resilience and Sustainability Trust. This step is part of the broader effort to address Pakistan’s financial needs and ensure long-term economic sustainability.
Aurangzeb indicated that the government is aiming to improve Pakistan’s sovereign rating in the upcoming fiscal year. This rating improvement is expected to enhance the country’s attractiveness to international investors and financial institutions, thereby fostering economic growth and stability.
The interview underscores Pakistan’s commitment to engaging with international financial institutions to secure support for its economic reform agenda and ensure a stable macroeconomic environment.