MELBOURNE, 14 July 2022: Pakistan is likely to get $1,177 million (SDR 894 million) from the International Monetary Fund (IMF), which has been announced in a media release emailed from Washington, DC today (PR[22/255]).
The decision announced today says: “IMF staff and the Pakistani authorities have reached a staff level agreement on policies to complete the combined 7th and 8th reviews of Pakistan’s Extended Fund Facility (EFF). The agreement is subject to approval by the IMF’s Executive Board.”
The proposed bailout for Pakistan aimed at stabilizing Pakistan’s sliding economy wants Pakistan’s adherence to a market-determined exchange rate and a proactive and prudent monetary policy. It also urges the country to expand social safety to protect the most vulnerable, and accelerate structural reforms including improving the performance of state-owned enterprises (SOEs) and governance.
