In a significant development for Pakistan’s economy, the International Monetary Fund (IMF) Executive Board is expected to approve a substantial $7 billion relief package in September. This move follows a recent announcement of a three-year aid deal, which was agreed upon on July 13.
Finance Minister Muhammad Aurangzeb has confirmed that negotiations with the IMF are ongoing to finalize the loan agreement. The approval of the staff-level agreement is anticipated within the month, marking a crucial step towards securing the much-needed financial support.
Aurangzeb expressed confidence that Pakistan will adhere to all conditions outlined in the agreement, ensuring a smooth approval process. The relief package aims to bolster Pakistan’s economic stability and support its development goals during a challenging period.
