After the IMF Executive Board meeting, Kristalina Georgieva gave a press conference where she praised Pakistan’s leadership and people.
She also complimented the nation’s economic standing, pointing to notable reforms and stronger growth. Pakistan’s economy has improved, according to the IMF Managing Director, and the country has implemented reforms.
She noted that Pakistan had presented its loan program reform plan to the board. According to Kristalina Georgieva, the impoverished are receiving aid from the Pakistani government.
The 37-month Extended Fund Facility (EFF) arrangement for Pakistan, worth roughly US$7 billion, was previously authorised by the IMF Executive Board.
The country’s request for an Extended Arrangement under the Extended Fund Facility was taken into consideration by the IMF Executive Board during its meeting.
The loan had an interest rate of less than five percent, and Pakistan would receive an initial tranche of US$1.1 billion by September 30.
With a focus on sustainable public finances, decreased inflation, and reinforced external buffers, the 37-month Extended Fund Facility arrangement seeks to promote Pakistan’s economic growth and stability.
