The Executive Board of the International Monetary Fund (IMF) has approved the sum of $500 million for immediate disbursement to Pakistan to support its budget.
This was done after reviewing #Pakistan’s reform programme supported by the IMF Extended Fund Facility.
Pakistan’s economic reform programme has been critical in addressing the COVID-19 crisis and supporting the economy, thus saving lives and livelihoods.
“The programme aims to support Pakistan’s policies to help the economy and save lives and livelihoods amid the still unfolding Covid-19 pandemic, ensure macroeconomic and debt sustainability, and advance structural reforms to lay the foundations for strong, job-rich, and long-lasting growth that benefits all Pakistanis.
“The Pakistani authorities have continued to make satisfactory progress under the Fund-supported program, which has been an important policy anchor during an unprecedented period.
“While the Covid-19 pandemic continues to pose challenges, the authorities’ policies have been critical in supporting the economy and saving lives and livelihoods.
“The authorities have also continued to advance their reform agenda in key areas, including on consolidating central bank autonomy, reforming corporate taxation, bolstering management of state-owned enterprises, and improving cost recovery and regulation in the power sector…,” said Ms. Antoinette Sayeh, Deputy Managing Director, IMF and Acting Chair, following the Executive Board discussion on Pakistan.
After reviewing #Pakistan’s reform program supported by the IMF Extended Fund Facility, the Fund’s Executive Board approved the immediate disbursement of about US$500 million for budget support. https://t.co/WFaSy51UYv
— IMF (@IMFNews) March 24, 2021
Amaka E. Nliam
