In a pivotal move, the International Monetary Fund (IMF) is gearing up to dispatch its review mission to Pakistan following the conclusion of the 2024 general elections. The mission’s primary focus will center on the progress of the Standby Arrangement (SBA) program, engaging in crucial discussions with the freshly elected government.
As of the latest update, the IMF has yet to confirm the schedule for the second review, keeping stakeholders in suspense. The last confirmation, dating back to July 2023, hinted at discussions with the incoming government.
Already having disbursed $1.9 billion out of the allocated $3 billion under the nine-month Stand-By Arrangement, the IMF is closely monitoring Pakistan’s economic trajectory. The SBA program is slated to conclude on April 12, 2024, with the anticipation of a final tranche of $1.1 billion upon a successful second review in April.
Amidst this financial backdrop, Pakistan recently received a $700 million loan tranche on January 17, 2024, following the IMF Executive Board’s completion of the first review of the economic reform program. This marked decision reinforces Pakistan’s commitment to economic stabilization and the implementation of necessary reforms.
The imminent review mission aligns strategically with the post-election period, marking a crucial juncture for Pakistan. The nation’s dedication to implementing new taxes remains a key focal point in ongoing discussions with the IMF, highlighting a commitment to fiscal responsibility and broader economic reforms. The IMF’s unwavering focus on the SBA program underscores the significance of achieving economic stability and enacting crucial policy reforms in Pakistan.
Also, see:
Caretaker Chief Minister of Punjab is Also the PCB Chairman
Topics #featured #trending pakistan
