Islamabad: Talks were held between Pakistan and the International Monetary Fund (IMF) regarding the review of the $7 billion loan program, following which the IMF issued a statement.
The IMF stated that discussions with Pakistan covered energy, healthcare, education development, social protection, and economic growth. Climate financing and measures to mitigate the effects of climate change were also part of the discussions.
According to the statement, the talks with Pakistan were positive, and significant progress has been made toward a staff-level agreement between Pakistan and the IMF.
The IMF confirmed that Pakistan has strictly adhered to the conditions of the existing loan program. The country has implemented strict economic measures to reduce government debt, adopted a tight monetary policy to control inflation, and introduced reforms to lower electricity production costs.
The statement further mentioned that Pakistan may potentially receive funds to tackle climate change. Both Pakistan and the IMF will continue virtual discussions to finalize the negotiations.
