IMF ready to work with new govt on Stand-by review

By MG News | March 08, 2024 at 09:46 AM GMT+05:00

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March 08, 2024 (MLN): The International Monetary Fund (IMF) stands ready to hold a mission for the second review of the Stand-by shortly after a new cabinet is formed, Julie Kozack, communications director of IMF said in a press briefing on Thursday.

The focus, therefore, is currently on completion of the current Stand-by program, which ends in April 2024.

“We look forward to working with the new government on policies to ensure macroeconomic stability,” she stated.

Under the caretaker government, Pakistan maintained economic stability by adhering to fiscal targets, maintaining a tight monetary policy stance to control inflation, and bolstering foreign exchange reserves, she noted.

And this has been done at the same time as implementing timely adjustments in tariffs to shore up the viability of the energy sector, the director noted.

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