While focusing on concluding a critical $3 billion Stand-By Arrangement Program with Pakistan, the International Monetary Fund (IMF) stated that once the new Pakistani government is constituted, it will send a team to conduct a fresh economic assessment.
Julie Kozek, the IMF’s Director of Communication, spoke to the media in Washington but declined to comment directly on Pakistan’s political scene. Instead, Kozek emphasized the IMF’s willingness to work with the Pakistani government to achieve economic stability.
She highlighted Pakistan’s development and emphasized that the existing stand-by arrangement will expire in April 2024. Pakistan has already received $1.9 billion from this initiative, and the caretaker government is implementing a rigorous fiscal policy to control inflation. Social security measures were also implemented to protect citizens.
During the caretaker government’s mandate, Pakistan experienced economic stability, meeting fiscal targets and increasing foreign exchange reserves. Tariff modifications in the energy industry were timely and critical to maintaining economic equilibrium.
She praised the caretaker government’s rigorous economic policies for controlling inflation and providing social safety measures. These steps, she claimed, contributed to economic stability during this transitional period.
Kozek emphasized the IMF’s commitment to completing the stand-by arrangement with Pakistan. As a result, the IMF is prepared to send a mission to conduct an economic assessment following the creation of Pakistan’s new cabinet.
