Prime Minister Shehbaz Sharif expressed approval over the International Monetary Fund’s approval of the final installment of $1.1 billion for Pakistan on Tuesday.
He stated that this installment will bring greater economic stability to the country. He also mentioned that his brother, Nawaz Sharif, had completed the previous IMF program in 2016.
Shehbaz Sharif highlighted the importance of the Standby Agreement with IMF in saving Pakistan from default and noted that the economic stability being experienced now is a result of difficult decisions.
He stated the importance of working towards improving the economy and reducing debt, stating that true success will come when Pakistan is debt-free.
The Prime Minister commended the efforts of the economic team, including Finance Minister Muhammad Aurangzeb, and expressed gratitude to the Managing Director of the IMF for supporting Pakistan during challenging times.
The Executive Board of the IMF approved the release of the final installment under the Standby Arrangement (SBA) for Pakistan on the previous day.
