ISLAMABAD
\nThe spokesperson of the International Monetary Fund (IMF) Julie Kozack has said that the Stand-By Arrangement (SBA) for Pakistan came at a challenging juncture.
\nJulie Kozack, in a press briefing said the SBA for Pakistan came at a challenging juncture. She clarified that IMF is always ready to work with Pakistan and the government in efforts to restore sustainability and economic stability.
\nThe new loan programme is aimed to stabilise Pakistan\u2019s economy and address the needs of the Pakistani people, she said. Kozack added that \u2018steadfast implementation is critical\u2019 to addressing its large financing needs and supporting the most vulnerable, besides providing a framework for financing from multilateral and bilateral partners.
\nThe IMF spokesperson Julie Kozack said the SBA came at a \u201cchallenging juncture\u201d. The programme, she stated, was aimed at supporting the government\u2019s economic stabilisation plan and policies, with due protection for the most vulnerable, and providing a framework for financing from multilateral and bilateral partners.
\nThe spokesperson stressed that \u201csteadfast policy implementation\u201d was critical in the period ahead. \u201cThis will be critical for the success of the programme and, of course, ultimately, for aiding and supporting the people of Pakistan,\u201d she added.
\nThe IMF spokesperson said that the new loan programme would fulfil Pakistan\u2019s needs for the current balance of payments. She added that it is a short programme but it provides time for Pakistan to implement policies critical to strengthening its domestic external economic situation, thereby supporting sustainability.
\nJulie Kozack further stated that Pakistan would require continued reforms to resolve structural challenges over the medium term to underpin the needed economic transformations, strengthen inclusive growth prospects, and create an environment conducive to renewed private capital inflows.
\nEarlier, Pakistan received the first tranche of $1.2 billion from the International Monetary Fund (IMF) under the SBA programme. The International Monetary Fund (IMF) had earlier approved a $3 billion loan for Pakistan after signing the staff-level agreement last month.
\nThe International Monetary Fund (IMF) had transferred an amount of $1.2 billion to the State Bank of Pakistan, Finance Minister Ishaq Dar confirmed in a televised statement here in Islamabad. Dar said the remaining $1.8 would be released after two reviews, meaning that there would be two instalments.
\nPakistan\u2019s foreign reserves had jumped by $4.2 billion during the last four days, he said \u2013 in a reference to $2bn deposit made by Saudi Arabia and another $1bn received from the United Arab Emirates (UAE). Pakistan is back on the track of development and prosperity, he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD The spokesperson of the International Monetary Fund (IMF) Julie Kozack has said that the Stand-By Arrangement (SBA) for Pakistan came at a challenging juncture. Julie Kozack, in a press briefing said the SBA for Pakistan came at a challenging juncture. She clarified that IMF is always ready to work with Pakistan and the government […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-343092","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-top-news"},"yoast_head":"\n