2023-07-01 08:45:00
IMF grants $3 billion in aid to crisis-stricken Pakistan
The International Monetary Fund (IMF) concluded an agreement, this Friday, June 30, with Pakistan to grant it a loan facility of 3 billion USD. The Asian country is indeed experiencing serious financial difficulties. He asked for help from the IMF to avoid a default by his creditors.
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Vendors and customers walk among sacrificed camels at a cattle market ahead of the Muslim holiday of Eid al-Adha in Lahore, Pakistan.Photo: AFP/VNA/CVN
Pakistani Prime Minister Shahbaz Sharif said Friday (30 June) that the stand-by agreement between his government and the International Monetary Fund (IMF) amounting to USD 3 billion would help bring economic stability and growth. to his country.
Speaking at a press conference in the eastern city of Lahore, the prime minister said the IMF’s executive board is expected to meet in mid-July to give its formal approval, an approval having granted to the level of competent personnel.
On Thursday, June 29, the IMF announced an agreement at the relevant staff level and that it would support the authorities’ immediate efforts to stabilize the economy following recent external shocks, to preserve macroeconomic stability and to provide a framework for the financing of multilateral and bilateral partners.
The prime minister said the agreement with the IMF was inevitable for the country and that his government was committed to carrying out this program while making efforts to achieve self-sufficiency in the future.
AFP-Xinhua/VNA/CVN
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