ISLAMABAD – The International Monetary Fund (IMF) has posed confidence to ink a staff-level agreement (SLA) with Pakistan as the country of over 220 million is facing worst economic crisis in recent times.
The lender’s Director Middle East and Central Asia Department Jihad Azour made positive remarks in a recent interaction with the Pakistani delegation during Spring meetings.
Finance Minister Ishaq Dar, who postponed his visit, virtually attended the meeting from Islamabad, Finance Division said in a statement. “Jihad Azour expressed his confidence that Staff Level Agreement (SLA) will be signed soon followed by the IMF Board’s approval,” the tweet reads.
(2/2)…Mr. Jihad Azour expressed confidence that SLA expected to be signed soon which to be followed by the Board’s approval for the 9th Review
— Ministry of Finance, Government of Pakistan (@Financegovpk) April 12, 2023
Agreement with Pakistan will be submitted to the IMF board for approval after meetings, IMF Director said, as she pinned hope that the South Asian nation will continue to progress towards reforms and the country will complete the IMF program on time.
Pakistan and the Fund exchanged views on the ongoing loan program and reviewed the recent visit of the IMF mission to Pakistan and the implementation of prerequisites.
IMF makes big cut to Pakistan’s growth outlook, predicts more inflation, unemployment
Finance Minister also informed about the challenges facing the country’s economy while he hoped for macroeconomic stability in crisis hit country.
In a statement, Mr Dar said the government has implemented all the pre-conditions and is ready to fulfill all its obligations as promised to the lender, and commended the cooperation of the IMF team for the completion of the Ninth Economic Review.
