ISLAMABAD – International Monetary Fund (IMF) has shared a report for Pakistan detailing the $3 billion Standby Arrangement.
In a statement by the Fund’s executive board, the SBA agreement program will center on the implementation of the current fiscal year’s budget to facilitate Islamabad’s needed fiscal adjustment and ensure debt sustainability, while protecting critical social spending;
It restricted the government to manipulate the exchange rate and urged proper market functioning to absorb external shocks. The US-based lender called on Pakistani authorities to further tight monetary policy aimed at disinflation and stressed structural reforms.
IMF predicted that GDP growth will likely pick up moderately in FY24. It mentioned having an eye on all measures during the programme and IMF will take data from central bank, FBR, and Bureau of Statistics for supervision.
It mentioned that South Asian nation will have to raise electricity and gas prices as per the SBA breather and further mentioned that Islamabad will be provided resources for heavy external financial.
IMF mentioned the possibility of getting financial support of $12 billion from foreign nations and international organisations.
https://en.dailypakistan.com.pk/25-Jun-2023/imf-s-demand-to-impose-rs215-billion-new-taxes-accepted-says-pakistan-finance-minister-ishaq-dar
