Pakistan has received the first installment of one billion 200 million dollars under the loan program from the International Monetary Fund (IMF).
While giving a press conference in Islamabad, Federal Finance Minister Ishaq Dar said that the International IMF has transferred the first installment of one billion 20 million dollars to the State Bank of India.
Finance Minister Ishaq Dar said that Pakistan will get 3 billion dollars under the IMF program, the IMF program is for 9 months, and Pakistan will get 3 billion dollars.
Ishaq Dar said that it is expected that our total foreign exchange reserves will be between 13 and 14 billion dollars. This week, the State Bank’s reserves have increased by 4 billion 20 million dollars. In this regard, the State Bank will issue its report.
He said that the remaining 1 billion 800 million dollars of the loan program will be given to Pakistan after 2 review reports.
He said that the role of Prime Minister Shehbaz Sharif has been important in the talks with the IMF, apart from him, the economic team of the government has also given full support in the difficult and difficult journey.
It should be noted that the Executive Board of the International Monetary Fund has approved a 3 billion dollar loan program for Pakistan.
According to the IMF statement, 1.8 billion dollars will be scheduled in November and February after re-evaluations, Pakistan has to stick strictly to the agreed policies, the economic reform program in Pakistan is to provide immediate support to the economy, from the program It will help Pakistan’s economy to overcome internal and external imbalances.
Loan program to be followed diligently: MDIMF
In a statement, MDIMF Kristalina Georgieva said that Pakistan has to follow this program with full dedication. Due to the decrease in internal and external financial reserves of Pakistan, the imbalance will be removed through continuous implementation of policies.
Kristalina Georgieva said that the new standby arrangement program is an opportunity to bring macroeconomic stability to Pakistan.
