Almost a month after the implementation of the ‘IMF-dictated’ budget, Pakistan is poised to enter a new loan program in the coming weeks.
Sources indicate that the Prime Minister’s Office will soon engage with the International Monetary Fund (IMF) to finalize a staff-level agreement worth between $6 to $8 billion. While Pakistan is striving for an $8 billion deal, the IMF has currently agreed to provide $6.5 billion. Discussions between Pakistani authorities and IMF officials have been ongoing for the past three days.
Authorities emphasize that Pakistan has diligently adhered to the IMF’s recommendations in the budget for 2024-25. Consequently, it is anticipated that an IMF mission will not be required to visit Pakistan.
Finance Minister statements on June 30 confirmed that Pakistan is actively negotiating a three-year loan program aimed at securing $6 to $8 billion to prevent a potential debt default.
