The Executive Board of the International Monetary Fund (IMF) is scheduled to review Pakistan’s $7 billion Extended Fund Facility (EFF) program today.
Finance Minister Muhammad Aurangzeb has expressed confidence that the program will receive approval, given the positive economic indicators. He mentioned that inflation and interest rates have recently declined, which is helping to restore investor confidence in the country.
Aurangzeb also emphasized the importance of the second phase of the China-Pakistan Economic Corridor (CPEC). This phase will focus on generating revenue from the infrastructure projects developed during the first phase, aiming to maximize their economic impact.
In addition to these positive developments, the Finance Minister reported that Pakistan achieved a current account surplus of $75 million in August. He noted that this improvement is expected to continue, supported by falling global oil prices and the government’s decision to pursue aggressive interest rate cuts to stimulate the economy.
Aurangzeb reassured that these measures would not only help improve the country’s financial position but also enhance overall economic stability in the coming months.
The government’s efforts to boost investor confidence, along with the continuation of reforms under the IMF program, are expected to play a vital role in driving Pakistan’s economic recovery.
