The International Monetary Fund (IMF) is eager to collaborate with the new government to develop policies that promote macroeconomic stability and prosperity for all citizens of Pakistan, announced IMF Director of Communication, Julie Kozack, during a press conference.
Kozack highlighted that on January 11, the IMF Executive Board approved the first review of the Stand-By Arrangement with Pakistan, resulting in total disbursements under the arrangement reaching $1.9 billion. She emphasized that the Stand-By Arrangement aims to support the government’s efforts to stabilize the economy while prioritizing the protection of the most vulnerable segments of society.
During the caretaker government’s tenure, Kozack noted that economic stability was maintained through adherence to fiscal targets and the preservation of the social safety net. This was achieved alongside a tight monetary policy stance to combat inflation and bolster foreign exchange reserves.
“We are excited about the opportunity to collaborate with the new government to ensure macroeconomic stability and prosperity for all citizens of Pakistan,” Kozack added.
Responding to a question about former Prime Minister Imran Khan’s letter regarding alleged election rigging, Kozack refrained from commenting on ongoing political developments, stating, “I’m not going to comment on ongoing political developments. So, I don’t have anything else to add to what I just said.”
