The International Monetary Fund (IMF) while prioritizing finalizing a crucial $3 billion Stand-By Arrangement Program with Pakistan, indicated that it send a team for a fresh economic assessment once the new Pakistani cabinet is formed.
Julie Kozek, the IMF's Director of Communication, addressed the media in Washington, refraining from commenting directly on Pakistan's political landscape. Instead, Kozek underscored the IMF's commitment to collaborating with the Pakistani government to achieve economic stability.
Highlighting Pakistan's progress, she noted the upcoming expiration of the current stand-by arrangement in April 2024. Pakistan has already received $1.9 billion under this program, with the caretaker government maintaining a strict fiscal policy to curb inflation. Social security measures were also implemented to safeguard citizens.
During the caretaker government's tenure, Pakistan witnessed economic stability, adhering to fiscal targets and bolstering foreign exchange reserves. Tariff adjustments in the energy sector were timely and instrumental in maintaining economic equilibrium.
She commended the caretaker government for maintaining strict fiscal policies to control inflation and implementing social safety measures. These steps, she said, helped ensure economic stability during this transitional period.
Kozek reiterated the IMF's dedication to seeing through the completion of the stand-by arrangement with Pakistan. As such, the IMF stands prepared to deploy a mission for an economic assessment post the formation of Pakistan's new cabinet.
