Federal Minister for Finance and Revenue Ishaq Dar met with US Ambassador to Pakistan Donald Blome to inform him about the recent agreement with the International Monetary Fund (IMF). The IMF and Pakistani authorities have reached an agreement on policies supported by a $3 billion, nine-month Stand-By Arrangement (SBA). However, this agreement is still subject to approval by the IMF Executive Board. During the meeting, Dar updated Blome about the agreement and shared the government’s economic policies and priorities. Blome expressed confidence in the government’s programs to bring economic sustainability to the country. He also pledged support to enhance bilateral economic, investment, and trade relations between the US and Pakistan. Experts have emphasized the importance of resuming the IMF bailout package for Pakistan’s struggling economy, which is facing a balance of payment crisis. The funds from the IMF would also encourage other international partners to invest in Pakistan, reducing the risk of default. Additionally, the agreement promotes stability in the currency market and sets expectations for economic growth, inflation, and interest rates.
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