IMF and Pakistan on the Verge of Financial Agreement

The International Monetary Fund (IMF) aims to quickly reach an agreement with Pakistan on financial support, as Islamabad has taken decisive measures to align its policies with the economic reforms sought by the IMF. The IMF mission chief for Pakistan stated that these measures include passing a budget that broadens the tax base, improving the functioning of the foreign exchange market, and tightening monetary policy. Pakistan is negotiating for the completion of a ninth review of a $6.5 billion loan program and the release of a $1.2 billion tranche. The government is hopeful for the completion of the review and is also working to secure the release of the entire pending amount of $2.6 billion.