IMF ready for new loan program with Pakistan: Julie

F.P. Report

ISLAMABAD: The International Monitory Fund (IMF) has expressed interest in talks with Pakistan for a new loan program.

Addressing a monthly press briefing International Monetary Fund’s Director of Communications Julie Kozack said IMF authorities have expressed interest in a successor IMF-supported program with the aim of resolving Pakistan’s fiscal and external stability challenges and laying the foundation for inclusive growth.

The IMF spokesperson said that of course, International Monetary Fund stands ready to engage in program discussions in the coming months.

In a press briefing in Washington, Kozack said: “Pakistan and the IMF reached a staff-level deal on March 19. The economic situation in Pakistan has improved”.

She maintained: “Pakistan will be granted an overall $3 billion in line with the standby arrangement.”

Julie Kozack also lauded the efforts of the Pakistani government for stabilising economy.

“The country has already secured $1.9 billion,” Kozack added.

Last month, the International Monetary Fund reached a staff-level agreement with Pakistan on the final review of a $3 billion bailout package.

The announcement came after the IMF team’s week-long visit to Islamabad concluded on March 19.

The global lender praised Pakistan’s central bank and outgoing caretaker government for “strong program implementation” and hoped the new government would continue its efforts for the stabilization of its economy.