Pakistan News / Pakistan finally got the loan, bag full of IMF's kindness; But...

Pakistan News: Pakistan, which is poor, poor and suffering from hunger, has finally succeeded in its plan and is getting huge amount of money. The International Monetary Fund (IMF) has approved immediate assistance of US $ 1.1 billion to Pakistan under the relief package. The IMF said that the country needs to take tough steps to bring its economy back on track. The decision in this regard has been taken by the Executive Board of the International Monetary Fund. Now it remains to be seen for how long Pakistan will be able to utilize this help.

'Pakistan should take advantage'

The Executive Board of the International Monetary Fund took the decision after completing the second and final review of Pakistan's economic reform program supported by the IMF's Additional Arrangement (SBA). With this, the amount payable under SBA has reached approximately US$3 billion. IMF Deputy Managing Director Antoinette Sayeh said, “Given the challenges ahead, Pakistan should take advantage of this hard-earned stability.” “We must move beyond the current system with sound macroeconomic policies and structural reforms to achieve strong, inclusive and sustainable growth.”

'Pakistan will have to work'

Antoinette Sayeh said that continued external support will also be important for Pakistan. He said Pakistan must work to achieve strong, long-term inclusive growth. Structural reforms to generate employment will need to be accelerated while emphasizing the need to provide continued protection to the most disadvantaged through income support programmes.

Shahbaz Sharif met IMF chief

Let us tell you that recently Pakistan Prime Minister Shahbaz Sharif had met IMF chief Kristalina Georgieva. Shehbaz Sharif had discussed with Kristalina Georgieva the new loan program to bring his country's economy, which is facing cash crunch, back on track. Not only this, on the sidelines of a meeting of the World Economic Forum (WEF) in Riyadh, Sharif had thanked International Monetary Fund Managing Director Georgieva for supporting Pakistan in obtaining an additional arrangement (SBA) of three billion US dollars. Pakistan had received an IMF program worth US$3 billion in June last year. Pakistan was seeking a new long-term extended fund facility (EFF) after the existing SBA expires this month.