The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, praised the Pakistani government for maintaining economic stability and implementing reforms. The Caretaker Prime Minister met with several world leaders, including Georgieva, at the COP28 summit. Pakistan recently signed a $3 billion Stand-By Arrangement (SBA) with the IMF, receiving $1.2 billion as the first tranche. This agreement also opened the door for support from other partners like Saudi Arabia, UAE, and the World Bank. The IMF program has provided some relief to Pakistan’s struggling economy and has been praised by the IMF chief. The government is now waiting for approval from the IMF’s executive board for the SBA program. Georgieva also highlighted the issue of low tax collection in Pakistan, emphasizing the need to increase the tax-to-GDP ratio. She urged authorities to collect more taxes to sustain the country’s functioning.
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