IMF Approves $7B Bailout for Pakistan Amid Economic Reforms

IMF Approves $7B Bailout for Pakistan Amid Economic Reforms

Speaking to newsmen after the IMF Executive Board meeting, Kristalina Georgieva congratulated the government and people of Pakistan

She also praised the country’s economic situation, citing significant reforms and improved growth. The IMF Managing Director said that Pakistan has made reforms and the country’s economy has improved.

She said that Pakistan presented its reform program before the board for the loan program. Kristalina Georgieva said that the Pakistani government is giving relief to the poor.

IMF approves US$7 billion bailout package for Pakistan

Earlier, the IMF Executive Board approved Pakistan’s 37-month Extended Fund Facility (EFF) arrangement of about US$7 billion.

The IMF Executive Board in its meeting considered the country’s request for an Extended Arrangement under the Extended Fund Facility.

Pakistan would receive an initial installment of US$1.1 billion by September 30, with the loan carrying an interest rate below 5 percent.

The 37-month Extended Fund Facility arrangement aims to support Pakistan’s economic stability and growth, with key policy goals including sustainable public finances, reduced inflation, and strengthened external buffers.