ISLAMABAD: The International Monetary Fund (IMF) will continue to discuss policy goals and actions that could form the basis of a medium-term home-grown reform programme for Pakistan that could be supported under Extended Fund Facility (EFF) arrangement with the IMF.

This was stated by Julie Kozack, Director of the Communications Department at IMF while addressing a press briefing.

She further stated that the authorities’ reform programme under discussion has few aims to cement economic credibility through the continued implementation of sound policies and to move Pakistan from economic stabilisation to strong inclusive and resilient growth. These are also needed to improve the living standard of people of Pakistan and that is the goal of these programme’s discussions.

IMF, Pakistan make ‘significant progress’ towards staff-level agreement, lender says

Replying to a question, the IMF official stated “with respect to Pakistan and where we are since the end of recent mission. So we had a mission to Pakistan from May 13 to May 23.

Our staff visited Islamabad at that time. We will be continuing to discuss policy goals and actions which could form the basis of a medium-term home-grown reform programme for Pakistan that could be supported under EFF arrangement with the IMF.“

With respect to another question regarding the prior actions and budget 2024-25, she stated that the discussions between the team and the authorities are ongoing and will communicate when they will have more information.

She further stated that the 2023 Stand-by Arrangement (SBA) for Pakistan was to return to stability and the goal is to maintain, broaden and extend stability to lay the basis for sustainable growth.

Copyright Business Recorder, 2024