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Pak PM envisions end of IMF dependency
The Business Guardian
|July 03, 2023
Pakistani Prime Minister Shehbaz Sharif stated that the recent USD 3 billion staff-level agreement signed with the International Monetary Fund (IMF) should be Pakistan’s final loan program with the Fund.
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The IMF confirmed that the agreement, which is a USD 3 billion stand-by arrangement, needs approval from its executive board. Despite an eight-month delay, the agreement brings relief to Pakistan, currently facing a severe balance of payments crisis and declining foreign exchange reserves. Information Minister Marriyum Aurangzeb announced that the prime minister and finance minister would address the public to instil confidence in the IMF deal. PM Shehbaz, along with Finance Minister Ishaq Dar, Aurangzeb, and Punjab Governor Balighur Rehman, offered Eid greetings during a press conference in Lahore.
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