Staff-level agreement with IMF expected within two weeks

ISLAMABAD: Significant progress has been made in the ongoing virtual negotiations between Pakistan and the International Monetary Fund (IMF) regarding a new programme.

According to Express News, the IMF has given the green light for the next programme, with a staff-level agreement expected to be finalised within the next two weeks.

According to sources in the Ministry of Finance, there has been almost complete agreement on all targets and conditions related to the new programme during the virtual meetings with the IMF.

The sources revealed that detailed discussions have been held over the past three days on various aspects of the agreement, including the programme’s size and duration. Following these discussions, the IMF has signalled approval for the new loan programme.

The sources further stated that the IMF had asked Pakistan to meet certain targets and conditions before 10 July, all of which have been achieved. In order to meet the IMF’s requirements, Prime Minister Shehbaz Sharif’s government has made some tough decisions.

These actions by the federal government include the introduction of the budget along with increases in electricity and gas prices.

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