IMF to continue aiding Pakistan
April 5, 2022 02:37 AM
The International Monetary Fund (IMF) has assured Pakistan of continuing its support to the country as soon as the new government is formed, the 24NewsHD TV channel reported on Monday.
The Fund issued a statement in wake of the political crisis, saying "There is no concept of suspension within the IMF programme".
In May 2019, Pakistan and the IMF reached a staff-level agreement on economic policies for a three-year Extended Fund Facility (EFF).
Under the agreement, Pakistan was to receive about $6 billion for a period of 39 months, and so far it has received almost half it.
The Fund will engage in policies to promote macroeconomic stability and enquire about intentions vis-a-vis programme engagement with the new government, the statement stressed.
Following the announcement, the Ministry of Finance said the Finance Division and the IMF were engaged in data sharing and reform discussions as part of the Extended Fund Facility (EFF).
"There is no truth to speculation about [the] suspension of [the IMF] programme. IMF has confirmed the same and also clarified that it remains committed to Pakistan’s macroeconomic stability," the press release added.