IMF, Pakistan close to reaching financial support deal: Nathan Porter

MG News | June 27, 2023 at 10:25 PM GMT+05:00

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June 27, 2023 (MLN): The International Monetary Fund (IMF) team continues discussions with Pakistani authorities with the aim of quickly reaching an agreement on financial support from the IMF, Nathan Porter, IMF Mission Chief to Pakistan said in a statement.

Over the past few days, the Pakistani authorities have taken decisive measures to bring policies more in line with the economic reform program, as it is supported by the IMF.

These include the passage of a budget by the parliament that broadens the tax base while opening up space for higher social and development spending.

Furthermore, the Pakistani government has taken substantial steps towards improving the functioning of the foreign exchange market and tightening monetary policy to reduce inflationary and balance of payment pressures that affect particularly the more vulnerable.

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