Finance minister Aurangzeb optimistic about upcoming IMF deal breakthrough
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Finance Minister Muhammad Aurangzeb is feeling hopeful about reaching a deal with the International Monetary Fund (IMF). During a media interview, he stated that negotiations are in the final stages, with no major obstacles remaining. He confirmed that Pakistan is on track to meet the IMF’s economic targets.
Aurangzeb emphasized Pakistan’s commitment to fiscal discipline and adherence to the financial framework discussed with the IMF. The focus of the talks is to secure the next funding tranche, which is vital for Pakistan’s economic recovery. Nathan Porter, the IMF Mission Chief to Pakistan, also noted progress towards a Staff-Level Agreement (SLA) concerning the country’s $7 billion loan program.
The successful conclusion of these discussions could lead to Pakistan receiving approximately $1 billion as part of the second loan installment. Aurangzeb also pointed out the urgent need for structured climate financing to address increasing environmental risks, especially in Lahore.
Furthermore, State Bank of Pakistan Governor Jameel Ahmad mentioned there are no issues from the bank’s side affecting the agreement. He hopes a staff-level agreement will be reached soon, although specifics on timing remain unclear. The federal government continues to work on finalizing its commitments to the IMF.
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