Finance minister upbeat about IMF’s crucial meeting on Pakistan loan

LAHORE: Finance Minister Muhammad Aurangzeb on Tuesday expressed optimism regarding the approval of the $7 billion loan for Pakistan by the International Monetary Fund (IMF) Board on Wednesday (tomorrow) as Pakistan has met all conditions set by the lender including the $2 billion internal financing through rollovers.

While addressing the China-Pakistan Economic Corridor (CPEC) seminar in Lahore, Aurangzeb highlighted the declining policy rate and the growing investor confidence. He added that government initiatives are contributing to a decrease in inflation rates, while foreign investment in the country continues to rise.

He emphasised the need to incorporate private sector leadership into the new Silk Routes strategy. The minister expressed his gratitude to China and Saudi Arabia for their ongoing support.

Read more: PIA privatisation bid to be live telecast on October 1

Earlier this year, in July, Pakistan reached another staff-level agreement (SLA) with the International Monetary Fund (IMF) for a $7 billion, three-year loan programme.