Hi everyone! I hope you are all doing well. Welcome back to another blog. This article will discuss the topic in detail “PM Shehbaz Optimistic for IMF Bailout Revival Decision”. On Tuesday, Prime Minister Shehbaz Sharif engaged in a telephone discussion with Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF).
During the conversation, he conveyed his optimism that the IMF would declare its verdict on the ongoing loan program within the next few days. He restated his unwavering commitment to collaboratively attain all predetermined objectives and milestones aimed at enhancing the economic panorama of the nation.
The Managing Director of the IMF recognized Finance Minister Ishaq Dar and his team’s efforts in successfully finalizing the pending bailout program. She conveyed her hope for advancements in Pakistan’s economy and praised Prime Minister Shehbaz for his dedicated commitment to the cause.
Following this, a phone call took place a few days later, during which the lender emphasized the need to modify the budget for the year 2023-24. The lender made it clear that reaching an agreement would not be possible unless they make certain adjustments, which they have already communicated to the Ministry of Finance.
As per the conditions outlined in the recent negotiations with the IMF, the government has reluctantly agreed to implement contingency measures aimed at boosting tax revenue. However, the absence of any relief to alleviate internal pressures means that the austerity measures are anticipated to continue keeping the economy on edge throughout the upcoming fiscal year.
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