IMF and Pakistan to Continue Discussions on Policy Goals and Actions For New Loan Program

The International Monetary Fund (IMF) will continue to discuss policy goals and actions that could form the basis of a medium-term home-grown reform program for Pakistan that could be supported under the Extended Fund Facility (EFF) arrangement with the IMF. This was stated by Julie Kozack, Director of the Communications Department at IMF while addressing a press briefing. She further stated that the authority’s reform program under discussion has few aims to cement economic credibility through the continued implementation of sound policies and to move Pakistan from economic stabilization to strong inclusive and resilient growth. These are also needed to improve the living standard of people of Pakistan and that is the goal of these program discussions. Replying to a question the IMF official stated, “with respect to Pakistan and where we are since the end of recent mission. So we had a mission to Pakistan from May 13 to May 23. Our staff visited Islamabad at that time. We will continue to discuss policy goals and actions which could form the basis of a medium-term home-grown reform program for Pakistan that could be supported under EFF arrangement with the IMF”. With respect to another question regarding the prior actions and budget 2024-25, she stated that the discussions between the team and the authorities are ongoing and will communicate when they have more information. She further stated that the 2023 Stand-by Arrangement (SBA) for Pakistan was to return to stability and the goal is to maintain, broaden, and extend stability to lay the basis for sustainable growth.