IMF and GOP confirm $6B deal!

Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh announced on Sunday that Pakistan and the International Monetary Fund (IMF) have finalised an agreement on a package worth $6 billion for a period of three years.

Speaking to the state TV, the finance adviser said that Pakistan has reached a staff-level agreement with the global lender, and further talks will continue after the IMF’s executive board’s approval.

“The country is awaiting a final nod from the board of directors from Washington,” he said.

“The IMF team has reached a staff-level agreement on economic policies that could be supported by a 39-month Extended Fund Arrangement (EFF) for about US$6 billion,” the IMF announced in a press release.