Lahore – The International Monetary Fund (IMF) has announced a new tranche of $1.2 billion for Pakistan under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF). According to the announcement, Pakistan will receive $1 billion under the EFF programme and $210 million under the RSF programme.
The amount will be released after the final approval of the IMF Executive Board, bringing the total disbursements under both programmes to $4.5 billion. This development is being described as very important for the stability of the country’s economy and the balance of external payments.
The IMF report acknowledges that Pakistan has strictly implemented the set economic targets, which has helped reduce the inflation rate and control the current account deficit. The increase in foreign exchange reserves has also been described as a positive sign; however, the international organisation has warned of potential economic risks arising from the tension in the Middle East, especially fluctuations in energy prices.
The government has reiterated its commitment to continue the process of economic reforms and take precautionary measures to protect the poor from the effects of expensive electricity and petrol so as to ensure sustainable economic growth.
