ISLAMABAD
\nInternational Monetary Fund and Pakistan have reached a staff-level agreement on a 37-month Extended Fund Facility Arrangement (EFF) of about seven billion dollars.
\nThis agreement is subject to approval by the IMF\u2019s Executive Board.
\nAccording to the international lender, the new program aims to support Pakistani authorities\u2019 efforts to cement macroeconomic stability and create conditions for a stronger, more inclusive, and resilient growth. This includes steps to strengthen fiscal and monetary policy and reforms to broaden the tax base, improve State Owned Enterprises\u2019 (SOE) management, strengthen competition, secure a level playing field for investment, enhance human capital, and scale up social protection through increased generosity and coverage in the Benazir Income Support Program (BISP).
\nThe IMF further emphasized that continued strong financial support from Pakistan\u2019s development and bilateral partners would be critical for the program to achieve its objectives.<\/p>\n
Under this agreement Pakistan will be provided 7 billion dollars during 3 years and one month. The loan program of 7 billion dollars while its duration will be 37 months.
\nIMF has said that inflation has declined during last year economic stability was promoted. New loan program will lead to economic stability. Foreign exchange reserved improved.
\nAccording to statement IMF Mission visited Pakistan from May 13 to May 23 on Pakistan request. IMF Mission held virtual talks during and after visit to Pakistan. Under it Pakistan will expand its tax net and end its exemption in tax. <\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD International Monetary Fund and Pakistan have reached a staff-level agreement on a 37-month Extended Fund Facility Arrangement (EFF) of about seven billion dollars. This agreement is subject to approval by the IMF\u2019s Executive Board. According to the international lender, the new program aims to support Pakistani authorities\u2019 efforts to cement macroeconomic stability and create […]<\/p>\n","protected":false},"author":2,"featured_media":354454,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-418272","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news"},"yoast_head":"\n