Islamabad, Pakistan and the International Monetary Fund (IMF) have finalized a staff-level agreement on the second and final review under the Stand by Arrangement. This agreement, pivotal for Pakistan’s economic stability, was achieved during discussions held in Islamabad with the IMF delegation led by Nathan Porter.
According to Ministry of Information and Broadcasting, the culmination of these talks marks a significant milestone, paving the way for Pakistan to receive 1.1 billion dollars following the approval from the IMF’s Executive Board. Nathan Porter, in his statement, highlighted the positive trajectory of Pakistan’s economy and financial health since the initial review, attributing this progress to diligent policy management and renewed financial support from international partners.
Porter also commended the commitment of Pakistan’s new government to uphold and extend the policy measures initiated under the current Stand by Arrangement, aiming to solidify economic and financial stability. Furthermore, the statement from the IMF lauded the State Bank of Pakistan for its dedication to implementing sound monetary policies, focusing on reducing inflation and fostering exchange rate flexibility and transparency.
The IMF team expressed gratitude toward Pakistani officials, the private sector, and development partners for their constructive dialogue and collaboration, which were instrumental in the success of this review.