Pakistan sanguine about approval of $7bn IMF bailout package on Sept 25
Finance Minister Muhammad Aurangzeb claims that all matters with the International Monetary Fund (IMF) have been resolved smoothly.
In a statement, the minister said Pakistan was moving towards development after achieving economic stability.
The finance minister expressed gratitude for Prime Minister Muhammad Shehbaz Sharif’s team, the IMF negotiating team, and other key institutions for their crucial role in making the upcoming IMF deal possible.
He said the matters would be finalised in the IMF Board meeting scheduled to be held on Sept 25.
As for the State Bank of Pakistan’s decision of reduction in the policy rate, the minister said it would help increase investment and business activities in the country. The uptick in economic activities would create job opportunities, he added.
IMF CONFIRMATION
The International Monetary Fund (IMF) board meeting to approve Pakistan’s loan programme will be held on Sept 25, says Director Communications Julie Kozack.
Pakistan claims to have fulfilled all the preconditions for the final approval of the International Monetary Fund’s $7 billion bailout package. The IMF Executive Board Meeting is likely to be convened on Sept 25.
