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The IMF has reached an agreement with Pakistan on a new $1.3 billion loan program, alongside a review of an existing bailout that could unlock an additional $1 billion. This 28-month deal aims to support Pakistan's climate change efforts, contingent on the approval of the Fund's executive board. Pakistan, having narrowly avoided default in 2023, is under strict conditions to enhance tax revenue and reduce power subsidies as part of its ongoing fiscal reforms. The IMF noted significant progress in Pakistan's macroeconomic stability over the past 18 months despite global challenges.
The IMF concluded unscheduled talks with Pakistani authorities regarding a $7 billion bailout, emphasizing the need for economic reforms to mitigate vulnerabilities. This visit, occurring shortly after the IMF board's approval, aimed to strengthen the foundation for sustainable growth ahead of the first review of the Extended Fund Facility in early 2025.
Nathan Porter
People
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IMF agrees to new 1.3 billion loan program for Pakistan
08:46 26.03.2025
imf and pakistan conclude talks on seven billion dollar bailout package
07:46 16.11.2024
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