ISLAMABAD: Staying within the policy framework agreed for the ninth review and sufficient financing from partners to support the authorities’ implementation efforts remain key to regaining macroeconomic stability, says the International Monetary Fund (IMF).

“We take note of recent developments, and while we do not comment on domestic politics, we do hope that a peaceful way forward is found,” said IMF Resident Representative Esther Pérez Ruiz while responding to a Business Recorder question. She further said that staying within the policy framework agreed for the review and sufficient financing from partners to support the authorities’ implementation efforts remain key to regain macroeconomic stability.

Pakistan needs significantly more financing for successful bailout review: IMF

The February mini-budget, the adjustment of energy prices, and the measures aimed at easing import restrictions and a market-determined exchange rate are important steps to stabilize the economy while supporting the most vulnerable.

The IMF welcomes the announcement of important financial support to Pakistan from key external partners and looks forward to obtaining the remaining necessary financing assurances, IMF Resident Representative added.

Responding to another question, she said that there is no truth to reports that the IMF is asking Pakistan to raise $8 billion in fresh financing. The IMF will continue to support Pakistan in the best possible way to secure sufficient financing by partners.

The amount of financing necessary to support the authorities’ implementation efforts and ensure that Pakistan stays current on external payments has remained unchanged throughout discussions under the ninth review, she added.

Copyright Business Recorder, 2023