IMF Issues Statement on Talks with Pakistan, Highlights Progress in Loan Program Negotiations

The International Monetary Fund (IMF) has issued a statement regarding the recent negotiations with Pakistan, acknowledging the country’s strong commitment to the current loan program. According to the IMF, Pakistan has strictly adhered to the conditions of the loan program, and the talks have been positive. The IMF stated that both sides will continue virtual discussions to finalize the negotiations.

The statement further highlighted that significant progress has been made towards reaching a staff-level agreement between Pakistan and the IMF. Discussions focused on key areas, including the management of Pakistan’s debt repayments, reducing energy sector costs, improving the energy sector, boosting economic growth, and enhancing public health.

The IMF also mentioned that the talks with Pakistan included discussions on promoting education, expanding social protection, and mitigating the effects of climate change. Additionally, efforts to address inflation through a tight monetary policy, reforms to reduce electricity production costs, and the implementation of an economic growth agenda were also discussed.

In terms of climate reforms, the IMF noted that discussions were held regarding possible funding for Pakistan to help address the challenges posed by climate change. The IMF emphasized that Pakistan has undertaken significant economic measures to reduce government debt, control inflation, and improve its economic outlook.