IMF ready for new loan program with Pakistan: Julie Kozack

ISLAMABAD: The International Monetary Fund (IMF) has expressed willingness to start discussions on a new loan program with Pakistan.

The spokesperson has said that IMF is ready to discuss a new program with Pakistan in the coming months. The spokesperson of the IMF said that in the coming weeks, Pakistan will issue a forecast related to growth.

Earlier, IMF Communications Director Julie Kozack said that since the first review was completed, Pakistan’s economic and financial situation has improved.

He said that under the standby agreement Pakistan will be paid $ 3 billion loan, it is expected that the meeting of the IMF board will be held at the end of this month.

Earlier, Pakistan Prime Minister Shehbaz Sharif had warned that the terms of the IMF program would not be easy.

Addressing the Cabinet meeting, the Prime Minister said that the next installment will be received from the IMF this month, while the Finance Minister will have a meeting for the new IMF program. The conditions for the IMF program will not be easy, but the IMF the program is indispensable for economic recovery.

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It should be noted that Pakistan is expected to get a new loan program of $7 to $8 billion loan from the IMF.