Pakistan finally included in IMF board agenda

Finally, the International Monetary Fund (IMF) has added Pakistan’s new 37-month Extended Fund Facility (EFF) to an agenda of its Executive Board meetings, which is scheduled for September 25.

Prime Minister Shehbaz Sharif heaped praise on friendly nations for extending all-out cooperation to help Pakistan in securing the bailout package.

Earlier, Pakistan and the global lender had reached an agreement on the 37-month loan programme in July.  The IMF said the programme was subject to approval from its executive board and obtaining timely confirmation of necessary financing assurances from Pakistan’s development and bilateral partners.

Islamabad was needed to secure external financing worth $2 billion from bilateral and commercial lenders as a pre-requisite for the approval of IMF board.

Prime Minister Shehbaz Sharif termed the progress good and praised the friendly countries support in this regard.

He said that we have to get rid of debts and Pakistan must stand on its own feet.

He made these remarks while addressing the federal cabinet meeting. He hoped that the forthcoming IMF package would be the country’s last.