Finance Ministry officials say the Executive Board of the International Monetary Fund (IMF) will approve the $1.1 billion tranche three to four weeks after the deal.
According to the officials of the Ministry of Finance, it has been agreed with the IMF to bring foreign exchange reserves equal to 2 months of imports by June 30.
Officials of the Ministry of Finance have said that Pakistan will have to manage more than 10 billion dollars through friendly countries, international organizations and commercial loans.
Officials of the Ministry of Finance say that this year the economic growth rate is estimated to be up to 2 percent while inflation is estimated to be more than 29 percent.
According to sources in the Ministry of Finance, Pakistan has given a guarantee to the IMF for the implementation of reforms at the level of the Prime Minister.
Sources in the Ministry of Finance say that friendly countries and international financial institutions will also monitor the existing loan program.
Finance Ministry sources have said that the IMF loan program will end after receiving 2.5 billion dollars by June 2023.
Sources in the Ministry of Finance further say that if necessary, Pakistan will make a new application for the new loan program in the next financial year.
Sources in the Ministry of Finance also say that it is in Pakistan’s interest to remain in the IMF program.
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