IMF: Loan deal to shoulder Pakistan’s efforts to steady economy

F.P. Report

ISLAMABAD:  The International Monetary Fund (IMF) has said that the $3 billion Standby-By Agreement (SBA) will shoulder Pakistan government’s urgent efforts to stabilize the economy.

Addressing a news briefing in Islamabad on Friday, Julie Kozack, the IMF’s Director of Strategic Communications, said the Fund Executive Board had approved $3 billion loan package and 1.2 billion dollar of it has been released immediately to Pakistan.

The IMF director declared that the programme would support Government of Pakistan’s efforts to stabilise the economy.

Julie Kozack said a stable policy implementation was crucial for Pakistan in the coming period, adding loan programme would be important to help and support the people of Pakistan.

She said Pakistan was facing various challenges, hence it would need uninterrupted reforms and the IMF was always there to work with Pakistan.