Hope in sight as Pakistan sees successful IMF review ahead

September 27, 2023 (MLN): To ensure a positive outlook for the upcoming International Monetary Fund (IMF) review, the caretaker government, led by Prime Minister Anwaar-ul-Haq Kakar is making noteworthy strides to meet the fiscal and foreign exchange reserves targets set under the $3 billion bailout agreement.

The latest statement issued by the Finance Ministry highlighted the government's commitment to maintaining fiscal discipline and achieving primary balance targets. In other words, Pakistan is on track to meet its obligations under the bailout agreement, as Bloomberg reported.

The caretaker government's proactive approach to economic stabilization has managed to catch international attention, with interim Prime Minister Kakar engaging with IMF Managing Director Kristalina Georgieva during a meeting on the sidelines of the United Nations General Assembly session in New York.

A separate statement from the Prime Minister's office affirmed Pakistan’s commitment to ensure the successful implementation of the bailout program.

Pakistan's financial stability has been a subject of concern in recent months.

In order to avert the default, the global lender provided a $3bn bailout package that supported the country's economic recovery efforts.

It is important to note that the forthcoming IMF review is scheduled for November, which will serve as a crucial milestone in Pakistan's journey towards economic recovery.

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