Pakistan Reaches Staff-Level Agreement with IMF, Says Finance Minister
Islamabad — Federal Finance Minister Senator Muhammad Aurangzeb announced on Tuesday that Pakistan has successfully reached a staff-level agreement with the International Monetary Fund (IMF). He also confirmed that a meeting regarding the NFC Award is scheduled to take place next week.
Addressing a press conference in Islamabad, Aurangzeb stated that the government is actively implementing structural reforms and that progress continues steadily. He highlighted the significance of climate financing and expressed satisfaction over improvements in the manufacturing sector. He added that maintaining payment balance and managing the current account are essential for sustainable growth, noting a five percent increase in overall exports.
The finance minister said that the government aims to sustain the momentum of economic recovery. He reported monthly improvements in the IT sector, rising remittances, and strong performance from the country’s technology industry. He emphasized that the government is encouraging private-sector participation to support economic expansion.
Aurangzeb further noted that the reduction in policy rates has positively impacted debt repayments. He revealed that Pakistan is preparing to issue Panda Bonds soon. “We are collectively moving forward with the ‘Pakistan First’ agenda,” he added.
