After receiving the $3 billion loan approval from the International Monetary Fund, Prime Minister Pakistan Shehbaz Sharif said that he is especially grateful for the support and cooperation of Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) and her team.
Shehbaz Sharif added that this milestone, which was achieved against the toughest odds and a seemingly impossible deadline, could not have been possible without the best efforts of the team. Shehbaz said that he appreciate the hard work of Finance Minister Ishaq Dar and his team of Finance Ministry.
In a statement shared on the social networking website Twitter, the Prime Minister wrote that the approval of the $3 billion stand-by agreement by the Executive Board of the IMF is in line with the government’s efforts to stabilize the economy and achieve macroeconomic stability.
The approval of Stand-by Agreement of $3 billion by the IMF's Executive Board a little while ago is a major step forward in the government's efforts to stabilise the economy and achieve macroeconomic stability. It bolsters Pakistan's economic position to overcome immediate- to…
— Shehbaz Sharif (@CMShehbaz) July 12, 2023
Continuing his statement, he said that the stand-by agreement strengthens the country’s economic position to overcome immediate to medium-term economic challenges, giving the next government fiscal space to move forward.