IMF approves immediate disbursement of $1.1 billion loan tranche to Pakistan

The International Monetary Fund approved immediate disbursement of $1.1 billion to Pakistan as part of the relief package, saying the country must take tough measures to get its economy back on track.

The International Monetary Fund (IMF) Board of Directors has completed the second and final review of Pakistan’s economic reform program supported by the IMF’s Standby Arrangement (SBA) and has taken a decision in this regard.

This development resulted in approximately $3 billion in spending under the SBA.

IMF Deputy Managing Director Antoinette Sayet said: “Given the significant challenges ahead, Pakistan must capitalize on this hard-won stability and persist with sound macroeconomic policies and structural reforms beyond the current arrangements. We must create stronger, more inclusive and sustainable growth.” . ” Continued external support will also be important, he said.

To achieve strong, long-term inclusive growth and create jobs, accelerate structural reforms and continue to protect the most vulnerable through a well-funded Benazir Income Support Program. IMF officials said.

He said his priorities include advancing state-owned enterprise (SOE) reform and ensuring all SOEs comply with the new policy framework, strengthening governance and anti-corruption institutions, and continuing to build resilience to climate change. It added that it includes.