ISLAMABAD – Pakistan’s economic progress finally got praised by International Monetary Fund (IMF) Esther Perez Ruiz representative for ongoing efforts to improve living standards and achieve macroeconomic stability.
In a presser at Sustainable Development Policy Institute, Esther Ruiz highlighted positive steps taken in 2023 to stabilize economy, saying conditions are gradually improving. She also acknowledged ongoing challenge of balancing micro and macroeconomic stability, emphasizing that both aspects are crucial for sustainable growth.
Mr Ruiz stressed the significance of recent stabilization measures, particularly the 2023 Stand-By Arrangement, which she termed crucial for reinforcing economic stability. This arrangement has contributed to a resurgence in economic growth and a reduction in inflation rates, Ruiz stated.
IMF officials also mentioned reductions in policy rates throughout the year as key factors positively impacting the economy, underscoring the importance of maintaining robust economic policies to ensure the ongoing success of the lending program.
Islamabad reached new $7 billion loan deal with International Monetary Fund, and it helped the government to shore up deteriorating economy and manage its soaring debts. This month, the Asian nation got first tranche of $1.027 billion from IMF.
IMF releases first tranche of $1Billion to Pakistan after approving bailout funds
