Prime Minister Shehbaz Sharif has expressed his satisfaction over the conclusion of a Staff-Level-Agreement with the International Monetary Fund on a nine-month US$3 billion Stand-By Arrangement while appreciating the efforts of Finance Minister Ishaq Dar, and expressing his gratitude to Fund’s MD Kristalina Georgieva for her cooperation and collaboration for the deal, reported 24NewsHD TV channel.
Taking to his Twitter handle on Friday, Prime Minister Shehbaz Sharif wrote: “Alhamdulillah, I am pleased to announce that Pakistan has reached a Staff-Level Agreement with the IMF on a nine-month US$3 billion Stand-By Arrangement. This Arrangement will help strengthen Pakistan’s foreign exchange reserves, enable Pakistan to achieve economic stability and put the country on the path of sustainable economic growth, Insha’Allah. I would like to appreciate the efforts and hard work of Finance Minister Ishaq Dar and his team at the Ministry of Finance for achieving this outcome. I would also like to thank MD IMF @KGeorgieva and her team at the IMF for their cooperation and collaboration, especially during the course of last week.”
https://twitter.com/CMShehbaz/status/1674670941060706304
Pakistan and IMF have reached the Staff-Level Agreement on a US $3 billion Stand-By Arrangement (SBA) today.
Prime Minister Shehbaz Sharif held a phone call with Fund’s Managing Director Kristalina Georgieva on Tuesday during which he expressed hope that the lender would announce a decision pertaining to the release of bailout funds within a day or two.
A handout released by the Prime Minister’s Office (PMO) on Tuesday said, “In connection with the meetings held in Paris, the IMF director general acknowledged efforts by the finance minister and his team for completion of the programme.”
“The prime minister also reiterated his determination to achieve the goals of improving the economic situation through joint efforts,” the handout added.
It also quoted Georgieva as saying that the Fund wanted Pakistan’s economic situation to improve and appreciated the commitment of the premier.