The International Monetary Fund (IMF) is close to reaching a staff-level agreement with Pakistan on the seventh review of its $6 billion bailout program. If the IMF board approves the review, Pakistan will be able to continue receiving IMF financing.
The current IMF program for Pakistan expires on June 29. If the IMF board does not approve the seventh review before then, Pakistan will no longer be eligible for IMF financing.
The IMF’s bailout program for Pakistan has been in place since 2019. The program was designed to help Pakistan stabilize its economy and reduce its external debt.
Pakistan’s economy has been struggling in recent years, due to a combination of factors, including high inflation, a widening current account deficit, and a decline in foreign exchange reserves.
The IMF’s bailout program has been controversial in Pakistan. Some critics have argued that the program has imposed too many austerity measures on the country and that it has not done enough to address the underlying causes of Pakistan’s economic problems.
However, the IMF has defended its program, arguing that it is necessary to help Pakistan stabilize its economy and reduce its external debt.
The IMF’s board meeting on Pakistan’s bailout program is expected to be closely watched by investors and markets. A successful outcome of the meeting would be seen as a positive sign for Pakistan’s economy, and it would help to boost investor confidence in the country
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