Pakistan's Finance Minister optimistic about new IMF agreement

Pakistan's Finance Minister, Muhammad Aurangzeb, has expressed optimism about finalizing a new agreement with the International Monetary Fund (IMF) next month. In an interview with Reuters, Aurangzeb highlighted the government's aim to secure a longer loan from the IMF to bolster macroeconomic stability and facilitate essential structural reforms.

Aurangzeb disclosed that the IMF mission is expected to visit Islamabad in the middle of the upcoming month to discuss the terms of the loan. Additionally, Pakistan intends to request further financial assistance from the IMF through the Resilience and Sustainability Trust once the primary loan agreement is reached.

The Finance Minister emphasized the significance of improving Pakistan's sovereign rating in the next fiscal year, stating that it is crucial for the country to regain a favorable ratings environment. This move is anticipated to enhance Pakistan's economic standing and attract potential investors.

In conclusion, the government's proactive approach towards securing a new IMF agreement reflects its commitment to fostering economic stability and implementing vital reforms. The forthcoming negotiations with the IMF hold the promise of providing Pakistan with the necessary financial support to navigate through its current economic challenges and pave the way for sustainable growth.