Islamabad, July 12, 2023 (PPI-OT): Prime Minister Shehbaz Sharif has termed approval of Stand-by Agreement of three billion dollars by the IMF’s Executive Board as a major step forward in the government’s efforts to stabilise the economy and achieve macroeconomic stability. In a tweet on Wednesday, he said it bolsters Pakistan’s economic position to overcome immediate- to medium-term economic challenges, giving next government the fiscal space to chart the way forward.

Commending the Finance Minister Ishaq Dar and his team at the Ministry of Finance for their hard work, the Prime Minister said this milestone, which was achieved against the heaviest of odds and against seemingly impossible deadline, could not have been possible without excellent team effort. Shehbaz Sharif also extended special thanks to IMF Managing Director Kristalina Georgieva and her team for their support and cooperation.

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