IMF ready to send mission to Pakistan after cabinet formation

Business International National

 The International Monetary Fund (IMF) is ready to send its mission to Islamabad for the second economic review after the formation of PM Shehbaz Sharif’s cabinet.

The IMF Director of Communications said that the focus currently is on completing the ongoing Stand-By Program, which is ending in April 2024, a mission for the second review of the Stand-By Program will be dispatched immediately after the formation of the new cabinet in Pakistan.

Addressing a press conference in Washington, IMF Director of Communications Julie Kozek said completing the existing standby arrangement is a priority, looking forward to working with Pakistan’s new government to ensure economic stability.

Earlier it emerged that the newly-elected PML-N-led government has decided to avail a fresh IMF loan program, and the Ministry of Finance has initiated actions on the directives of the premier.

Pakistan is likely to seek $6 to 8 billion loan program from the international lender and for this immediate contact will be made with the International Monetary Fund for negotiations.

The sources further said the conditions of the International Monetary Fund would be stricter this time.

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