After days of uncertainty over the revival of the stalled International Monetary Fund’s (IMF) Extended Fund Facility (EFF), Pakistan on Wednesday morning successfully secured the much-awaited deal with the global money lender, Geo News reported, sitting finance ministry sources.
Sources said that the deal was struck after the Government of Pakistan took measures to satisfy the terms and conditions laid forth by the IMF for the resumption of the $6 billion loan program
The body, per sources, also agreed on the steps taken by Pakistan for the budget for the upcoming fiscal year 2022-23, while it also accepted the country’s budget targets.
Following the deal, the chances for the revival of the loan program are “very bright,” finance ministry sources said.
The latest development comes a day after the Federal Minister for Revenue and Finance Miftah Ismail had indicated the revival of the agreement with IMF within a day or two.
“I am very hopeful that the IMF program will be revived soon,” the finance minister had said while speaking to journalists as uncertainty over the revival of the fund’s program continued depreciating the rupee against the dollar.
According to the sources, a communique in this regard will be issued soon.
More to follow.
