Pakistan and the International Monetary Fund have agreed to a bailout package of nearly $6 billion over the next three years to meet foreign debt obligations, prime minister\u2019s adviser on finance Abdul Hafeez Shaikh announced on Sunday.
He said the agreement, which must still be approved by the IMF board of directors in Washington, would show that effective reforms were underway in Pakistan. \u201cThe Pakistani authorities and the IMF team have reached a staff level agreement on economic policies that could be supported by a 39-month Extended Fund Arrangement for about US $6 billion,\u201d an IMF press release quoted IMF mission chief for Pakistan Ernesto Ramirez Rigo as saying.<\/p>\n\n\n\n
The facility aims \nto support Pakistani authorities\u2019 \u201cstrategy for stronger and more \ninclusive growth by reducing domestic and external imbalances, removing \nimpediments to growth, increasing transparency, and strengthening social\n spending\u201d, the statement said.<\/p>\n\n\n\n
It said financing support from \nPakistan\u2019s international partners will be \u201ccritical to support the \nauthorities\u2019 adjustment efforts and ensure that the medium-term \nprogramme objectives can be achieved\u201d. Rigo added: \u201cPakistan is facing a\n challenging economic environment, with lacklustre growth, elevated \ninflation, high indebtedness, and a weak external position.The \nauthorities recognise the need to address these challenges, as well as \nto tackle the large informality in the economy, the low spending in \nhuman capital, and poverty.\u201d\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"
Pakistan and the International Monetary Fund have agreed to a bailout package of nearly $6 billion over the next three years to meet foreign debt obligations, prime minister\u2019s adviser on finance Abdul Hafeez Shaikh announced on Sunday. He said the agreement, which must still be approved by the IMF board of directors in Washington, would […]<\/p>\n","protected":false},"author":1,"featured_media":61241,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[87],"tags":[],"class_list":["post-61240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/61240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=61240"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/61240\/revisions"}],"predecessor-version":[{"id":61242,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/61240\/revisions\/61242"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/61241"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=61240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=61240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=61240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}