{"id":42249,"date":"2024-07-13T12:09:25","date_gmt":"2024-07-13T07:09:25","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=42249"},"modified":"2024-07-13T12:09:25","modified_gmt":"2024-07-13T07:09:25","slug":"pakistan-imf-reaches-staff-level-agreement-on-7bn-bailout-deal","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/featured\/pakistan-imf-reaches-staff-level-agreement-on-7bn-bailout-deal\/","title":{"rendered":"Pakistan, IMF reaches staff-level agreement on $7bn bailout deal"},"content":{"rendered":"<p>ISLAMABAD: In much-needed respite, cash-strapped Pakistan and the <a href=\"https:\/\/dailyausaf.com\/en\/business\/imf-asks-pakistan-to-tax-pensioners-as-mission-lands-in-pakistan-for-monetary-talks\/\">International Monetary Fund (IMF)<\/a>\u00a0have reached a staff-level agreement on a three-year <a href=\"https:\/\/dailyausaf.com\/en\/pakistan\/pakistan-imf-deal-dar-says-saudi-arabia-has-deposited-2bn-in-sbp-account\/\">Extended Fund Facility Arrangement (EFF)<\/a> of about US$7 billion, the Washington-based international lender said on late Friday.<\/p>\n<p>The staff-level agreement, which needs to be validated by the Fund\u2019s Executive Board, aims to support the country&#8217;s efforts to cement macroeconomic stability and create conditions for stronger, more inclusive, and resilient growth, IMF said in a statement.<\/p>\n<p>This includes steps to strengthen fiscal and monetary policy and reforms to broaden the tax base, improve <a href=\"https:\/\/dailyausaf.com\/en\/business\/pm-shehbaz-okays-privatization-of-all-state-owned-enterprises\/\">State Owned Enterprises (SOE)<\/a> management, strengthen competition, secure a level playing field for investment, enhance human capital, and scale up social protection through increased generosity and coverage in the Benazir Income Support Program (BISP).<\/p>\n<p>In response to a request by Pakistan, the IMF team led by Nathan Porter, IMF\u2019s Mission Chief to Pakistan, held discussions during the May 13-23, 2024 staff visit to Islamabad and virtually thereafter on IMF support for Pakistan\u2019s medium-term policy and reform plans.<\/p>\n<p>The program under the 2023 Stand-By Agreement (SBA) aims to capitalize on the hard-won macroeconomic stability achieved over the past year by furthering efforts to strengthen public finances, reduce inflation, rebuild external buffers, and remove economic distortions to spur private sector-led growth, IMF\u2019s Mission Chief to Pakistan said in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: In much-needed respite, cash-strapped Pakistan and the International Monetary Fund (IMF)\u00a0have reached a staff-level agreement on a three-year Extended Fund Facility Arrangement (EFF) of about US$7 billion, the Washington-based international lender said on late Friday. The staff-level agreement, which needs to be validated by the Fund\u2019s Executive Board, aims to support the country&#8217;s efforts [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":26891,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,13446],"tags":[],"class_list":["post-42249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/42249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=42249"}],"version-history":[{"count":1,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/42249\/revisions"}],"predecessor-version":[{"id":42250,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/42249\/revisions\/42250"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/26891"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=42249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=42249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=42249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}