IMF ready to support Pakistan

ISLAMABAD: The International Monetary Fund (IMF) stands prepared to assist Pakistan, emphasising that the focus should be on the significance of reform measures rather than the scale of any potential new program, stated the fund’s Middle East and Central Asia director on Thursday.

“I think what is important at this stage is to accelerate the reforms, double down on the structure of reforms in order to provide Pakistan with its full potential of growth,” Jihad Azour told a press conference on the sidelines of the IMF 2024 Spring Meetings.

Finance Minister Muhammad Aurangzeb is presently in Washington to participate in the spring meetings hosted by the IMF and the World Bank (WB).

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Aurangzeb previously announced that Pakistan had commenced negotiations with the Fund regarding a new multi-billion dollar loan agreement aimed at bolstering its economic reform agenda. He indicated that the country intends to request a minimum three-year program.