The International Monetary Fund (IMF) has approved a $7 billion Extended Fund Facility (EFF) for Pakistan, providing crucial support for the country’s economy. The approval was confirmed by the Prime Minister’s Office (PMO), and the Prime Minister expressed satisfaction with the program’s approval, stating that economic reforms are progressing rapidly. The government aims to achieve economic stability and development goals, with a focus on increasing business activities and investment in the country.
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The Prime Minister also expressed optimism that this will be Pakistan’s last IMF program and thanked Saudi Arabia, China, and the UAE for their support. The program’s primary goals include stabilizing Pakistan’s economy, rebuilding foreign exchange reserves, and creating a more conducive environment for private-sector-led growth. The loan deal, contingent on financial commitments from allies such as Saudi Arabia, China, and the UAE, aims to address fiscal risks and create a path towards recovery for Pakistan’s economy.
