IMF Staff-Level Agreement Expected to Be Approved This Month, Says Finance Minister

Islamabad: Federal Finance Minister Muhammad Aurangzeb has stated that the International Monetary Fund (IMF) Executive Board is expected to approve the staff-level agreement by the end of this month. Speaking at a ceremony in Islamabad, he noted that Pakistan is on the list of countries affected by climate change, and discussions on climate financing will follow the approval of the agreement by the IMF Executive Board. Climate financing discussions are also scheduled to take place during the annual meeting of the IMF and World Bank in October.
The Finance Minister highlighted the severe population growth in Pakistan, describing it as a “population bomb” that has already exploded. He emphasized the need for Pakistan to address both the impacts of climate change and population control. Effective plans for climate financing with the IMF and World Bank will be crucial.
He also mentioned that the Finance Ministry and the Ministry of Climate Change are working together with the IMF and World Bank to improve the country’s economic situation. This includes efforts to enhance the budget, tax measures, energy sector, and living standards. Monitoring of climate change projects in collaboration with the IMF and World Bank must be improved.
Furthermore, Finance Minister Muhammad Aurangzeb stressed that the private sector must play a role in improving the national economy. Developing key policies to mitigate the effects of climate change will be essential for the country’s future.