The International Monetary Fund (IMF) has announced the disbursement of the first tranche of $1 billion as part of Pakistan’s bailout package.
IMF Managing Director Kristalina Georgieva previously expressed optimism, stating, “We have good news; we have completed our review for Pakistan. The economy is moving in the right direction, with growth improving and inflation decreasing.”
In a conversation with Pakistani journalists, Georgieva congratulated Pakistan, noting that the country has implemented reforms leading to economic improvements.
She emphasized that positive reforms have resulted in an upward trend in production, while inflation continues to decline, indicating that the economy is on a path to stability.
In response to a question, Georgieva highlighted that the government is taxing the wealthy while providing support to the poor, which she described as a positive development.
In a statement from the Prime Minister’s Office, Prime Minister Shehbaz Sharif expressed satisfaction with approving the $7 billion IMF package.
He noted that the implementation of economic reforms is progressing rapidly and emphasized the importance of continuing efforts to achieve economic stability and growth targets.
After a staff-level agreement in July, meetings of the executive board were held in August and the first three weeks of September, but the approval of Pakistan’s program was not included in these discussions.
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