Major IMF Staff-Level Agreement: Finance Minister Unveils 3 Key Structural Reforms

The Finance Minister Announces Structural Reforms Following the IMF Staff-Level Agreement:

IMF staff-level agreement:

Federal Finance Minister Senator Muhammad Aurangzeb has released a statement in response to the staff-level agreement accomplished with the International Monetary Fund (IMF).

Pakistan and the IMF have struck an agreement for a loan program whereby the IMF will lend Pakistan $7 billion over a period of 37 months. The IMF Executive Board will ultimately approve the staff-level accord.

The IMF said that the loan program includes steps to broaden the tax base and improve financial and monetary policies.

Pakistan’s macroeconomic stability would be enhanced by the IMF program, according to a statement made by Finance Minister Muhammad Aurangzeb.
According to the Finance Minister, structural reforms are required as part of the IMF program. Stabilization is required in sectors including public finance, energy, and government agencies. The upcoming years will see the introduction of structural reforms.