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General Bajwa, has requested assistance from Washington in achieving an early transfer of funds from the IMFin order to help stabilize Pakistan's shrinking economy.

  The Chief of Army Staff, General Qamar Javed Bajwa, has requested assistance from Washington in achieving an early transfer of funds from the International Monetary Fund in order to help stabilize Pakistan's shrinking economy. Deputy Secretary of State Wendy Sherman, according to security sources, spoke with the army chief earlier this week. It is stated that the army chief made a plea to the White House and Treasury Department to get the IMF to immediately supply the almost $1.2 billion that the country is slated to receive under a reopened loan program. "Staff-level approval" for the loan was granted by the International Monetary Fund (IMF) on July 13. IMF Executive Board clearance is required before the transaction can be completed as part of Pakistan's $6 billion Extended Fund Facility. The International Monetary Fund (IMF) will be on vacation for the next three weeks, and its board will not meet until late August at the earliest. According to an IMF official wh...
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IMF and Pakistan came to a staff-level agreement.


PKR rises Rs. 1.6 in interbank after the government achieves an agreement with the IMF

In a recent tweet, the prime minister of Pakistan announced the agreement with the IMF and thanked his finance minister, Miftah Ismail, and foreign minister, Bilawal Bhutoo Zardari, for their efforts in securing the agreement, which came about as a result of the rising price of gasoline and other hardships.




The IMF stated in a post on its website that the agreement needed to be approved by its executive board.

Around $1.177 million will become accessible, subject to board approval, bringing the program's total payout to approximately $4.2 billion.

The deal's loan is anticipated to be received by the end of July or the beginning of August. 





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