The International Monetary Fund (IMF) announced Wednesday that it has reached a staff-level agreement with Pakistan, paving the way for the disbursement of about $2 billion following formal approval.
In a statement, the IMF acknowledged Pakistan’s progress in restoring macroeconomic stability despite ongoing challenges. “Despite the difficulties, Pakistan has made significant progress in restoring macroeconomic stability and confidence,” the IMF said.
The agreement comes as Pakistan sees inflation drop to its lowest level since 2015, alongside improved financial discipline and a reduced burden of external payments. The funds are expected to bolster the country’s foreign exchange reserves and support economic reforms.
Meanwhile, Pakistan’s Foreign Office reiterated its stance on Israel, with a spokesperson stating, “Pakistan does not recognize Israel,” reaffirming the country’s long-standing diplomatic position.
