The International Monetary Fund has approved an immediate disbursal of USD 1.1 billion to Pakistan as part of a bailout package and said the country needs to take tough measures to bring its economy back on track.
With this development, the disbursements under the SBA reached around USD 3 billion.
IMF's Deputy Managing Director Antoinette Sayeh said, "Given the significant challenges ahead, Pakistan should capitalise on this hard-won stability, persevering -- beyond the current arrangement -- with sound macroeconomic policies and structural reforms to create stronger, inclusive, and sustainable growth." Continued external support will also be critical, she said.
Achieving strong, long-term inclusive growth and creating jobs require accelerating structural reforms and continued protection of the most vulnerable through an adequately-financed Benazir Income Support Program, the IMF official said.
Priorities include advancing the reform of state-owned enterprises (SOEs) and ensuring that all SOEs fall under the new policy framework, strengthening governance and anti-corruption institutions, and continuing to build climate resilience, she added.
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