ISLAMABAD – Senator Ishaq Dar, the Federal Minister for Finance and Revenue, expressed optimism that the International Monetary Fund (IMF) will soon reach a staff-level agreement with Pakistan and present it to the executive board for approval.
Speaking to a private TV channel on Monday, Dar confirmed that Saudi Arabia and the United Arab Emirates had notified the IMF of their financial support for Pakistan, amounting to a total of $3 billion.
He further elaborated that Saudi Arabia had pledged $2 billion while the UAE had committed $1 billion. Dar stated that Pakistan had fulfilled all the conditions set by the IMF for the revival of the loan agreement, paving the way for the staff-level accord to be finalized and sent for approval.
Senator Ishaq Dar also confirmed that the government of Pakistan had fulfilled all the conditionalities of the IMF for the revival of the loan agreement, which was a positive sign.
The IMF’s staff-level agreement is an important step towards the approval of a loan program for Pakistan. This loan will be aimed at stabilizing the country’s economy and strengthening its balance of payments. The agreement outlines the terms and conditions of the loan program and serves as a basis for the IMF executive board’s approval.
If the agreement is finalized, Pakistan will receive much-needed financial support from the IMF, which is expected to help improve the country’s economic outlook. It is hoped that this financial support will help Pakistan address its economic challenges and pave the way for sustained economic growth.
