Islamabad- Finance Minister Muhammad Aurangzeb has announced that all issues with the International Monetary Fund (IMF) have been resolved, paving the way for Pakistan’s economic development after achieving stability.
The minister expressed gratitude to Prime Minister Muhammad Shehbaz Sharif’s team, the IMF negotiating team, and other key institutions for their crucial role in making the upcoming IMF deal possible. He confirmed that the matters would be finalized in the IMF Board meeting scheduled for September 25.
Aurangzeb also welcomed the State Bank of Pakistan’s decision to reduce the policy rate, stating that it would increase investment and business activities, leading to job creation.
Meanwhile, IMF Director Communications Julie Kozack confirmed that the IMF board meeting to approve Pakistan’s loan program would be held on September 25. Pakistan has fulfilled all preconditions for the final approval of the $7 billion bailout package.
Prime Minister Shehbaz Sharif acknowledged the support of friendly countries in helping Pakistan meet the requirements necessary to secure the IMF bailout. He hopes that this will be Pakistan’s last agreement with the IMF.
Earlier, the Prime Minister lauded the State Bank of Pakistan’s decision to slash the policy rate by two percent, calling it a step to boost investors’ confidence.
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