Kozack stated during a news conference in Washington that Pakistan and the IMF had reached a staff-level agreement on March 19. Pakistan’s economic circumstances have improved.
“Pakistan will be granted an overall $3 billion in line with the standby arrangement,” the speaker insisted.
$1.9 billion has already been secured by the nation,” Kozack continued.
A staff-level agreement was reached between Pakistan and the International Monetary Fund (IMF) last month over the final review of a $3 billion loan plan.
The announcement was made on March 19, following the end of the IMF team’s week-long visit to Islamabad.
The international lender congratulated Pakistan’s central bank and the departing caretaker government for their “strong program implementation” and expressed its optimism that the incoming administration would carry on with efforts to stabilize the country’s economy.
The new government is dedicated to carrying out the policy initiatives that were initiated under the existing Stand-By Arrangement to solidify financial and economic stability for the balance of this year, the IMF official continued.
In order to support Pakistan’s economic stabilization program, the IMF approved a critical nine-month agreement with that country in June.
