Pakistan is likely to receive 700 million dollars from the IMF today

The Executive Board of the International Monetary Fund (IMF) has approved immediate release of $700 million to Pakistan, which is likely to be transferred to Pakistan today.

According to the IMF spokesman, this approval will release a total of 1 billion 900 million dollars for Pakistan, this 3 billion dollars loan program will be completed in April.

According to the IMF spokesperson, Pakistan has to increase its foreign and exchange reserves by maintaining the market-based exchange rate.

IMF spokesman says that Pakistan will have to increase foreign exchange reserves by normalizing imports, Pakistan will strengthen transparency and efficiency in the foreign exchange market.

The IMF spokesperson says that the value of the rupee will not be restrained or controlled through administrative measures, with the Finance Minister and the Governor of the State Bank having written assurances to stick to the conditions in the next budget.

According to the IMF spokesperson, Pakistan will have to continuously adjust the energy prices to reduce the pressure on the foreign exchange.

The spokesperson of the IMF has said that the inflation in Pakistan is likely to decrease in the coming months, however, due to increasing geopolitical tension, Pakistan may remain vulnerable to external threats.

The IMF spokesman has said that Pakistan will have to continue with a tight monetary policy to reduce inflation, and continue with fundamental reforms to make the energy sector viable.

The IMF spokesperson has said that state-owned enterprises will have to improve governance, Pakistan needs to build capacity to cope with the effects of climate change.

The IMF spokesperson says that Pakistan will have to strengthen anti-corruption institutions, and efforts should continue to build resilience in the Pakistani economy to deal with threats.

The spokesperson of the IMF has further said that the increase in the prices of commodities and the tightening of global financial conditions may be faced.

The IMF spokesperson also says that the level of inflation is still high, with appropriate and strict policy it can fall to 18.5% by the end of June 2024.