Pakistan Nears Agreement on New IMF Loan, Finance Minister Confirms

Islamabad, Finance Minister Muhammad Aurangzeb announced that Pakistan is progressing towards securing a new, expanded financial support agreement with the International Monetary Fund (IMF). This development comes as the nation seeks to stabilize and boost its economy through comprehensive reforms.

According to Ministry of Information and Broadcasting, during an interview with The National, an English language newspaper, Aurangzeb expressed optimism about the negotiations, noting that the IMF has shown openness to a larger and more extended program than previously offered. The Finance Minister emphasized that Pakistan requires at least three years of support to effectively implement a broad reform agenda, focusing on key areas such as taxation and energy.

Aurangzeb also highlighted positive shifts in macroeconomic factors, pointing to a stabilization in Pakistan’s currency and a projected decline in inflation to single-digit levels by the end of next year, signaling potentially relieving economic pressures.