IMF Releases $7 Billion Loan for Pakistan’s Economic Revival
Islamabad, Pakistan – In a significant boost to Pakistan’s economy, the International Monetary Fund (IMF) has approved a $7 billion bailout package under the Extended Fund Facility (EFF), with an immediate disbursement of $1 billion.
The 37-month loan program aims to restore macroeconomic stability, improve public service delivery, and combat climate change effects.
Pakistan’s Economic Growth on Track
According to the IMF, Pakistan’s economic growth rate has reached 2.4%, driven by agricultural sector activity, while inflation has declined to single digits.
“Pakistan’s economy is moving in the right direction,” said IMF Managing Director Kristalina Georgieva.
Challenges Ahead
Despite progress, Pakistan faces significant challenges:
- Difficult business environment
- Weak governance
- Limited investment
- Narrow tax base
Government Response
Prime Minister Shahbaz Sharif welcomed the IMF package approval, attributing the success to his government’s economic reforms and hard work.
“We will continue to work hard to achieve economic development goals,” Sharif said.
IMF Conditions
The IMF emphasized the need for continued financial support from development partners and appropriate reform adjustments to ensure Pakistan’s economic stability.
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