Advertisement
Categories: BusinessNews

IMF Approves $1.1 Billion Disbursement to Pakistan for Economic Reform Efforts

Advertisement

The International Monetary Fund (IMF) has completed the second and final review of Pakistan’s economic reform program under the Stand-By Arrangement (SBA). This decision allows for an immediate disbursement of $1.1 billion, bringing the total disbursements under the arrangement to $3 billion.

The SBA, approved in July 2023, aimed to address domestic and external imbalances, provide financial support, and implement necessary fiscal adjustments. The program focused on fiscal adjustment, protection of social spending, buffering external shocks, disinflation, and structural reforms in areas such as the energy sector, state-owned enterprises (SOEs), and climate resilience.

The economic reforms have led to improvements in macroeconomic conditions, including a projected 2% growth in FY24, a strengthening fiscal position with a primary surplus achieved ahead of projections, declining inflation, and increased gross reserves.

Antoinette Sayeh, Deputy Managing Director and Chair of the IMF Executive Board, emphasized Pakistan’s progress in restoring economic stability but urged continued efforts in sound macroeconomic policies and structural reforms to foster stronger, inclusive, and sustainable growth. Fiscal sustainability, revenue mobilization, energy sector reforms, monetary policy, foreign exchange market functioning, and financial stability were highlighted as key areas for ongoing focus.

Advertisement
News Desk

Recent Posts

Pakistan Enters Top 100 of Global Passport Index, Eyes Further Gains with Digital Upgrades

Pakistan’s passport has made a notable leap in global mobility rankings, entering the top 100…

13 hours ago

International Survey Reveals Pakistanis Support Actions to Address Climate Change

An international survey conducted across 17 total countries, including Pakistan, was commissioned by the Global…

13 hours ago

Pakistan’s first AI data center launched

Data Vault Pakistan has officially launched the country’s first AI-focused data center in Karachi, a…

13 hours ago

Trade Development Authority of Pakistan to Represent Country at Ambiente Frankfurt 2026

Ambiente Frankfurt 2026, the world’s leading international trade fair for consumer goods, is set to…

13 hours ago

LuckyOne Mall Launches SIMT: A Career Counseling Initiative Honoring Pakistan’s Unsung Heroes

In a powerful demonstration of purpose-driven leadership, LuckyOne Mall—one of Pakistan’s premier lifestyle destinations—has unveiled…

13 hours ago

Over 7 million streaming accounts’ credentials were leaked in 2024: Kaspersky Report

In a new report, Kaspersky identified over 7 million compromised accounts belonging to streaming services…

13 hours ago