Pakistan's economy improving after Standby Agreement: IMF

Islamabad: The officials of International Monetary Fund (IMF) said that Pakistan's economy is on the way to improvement after the Standby Arrangement (SBA) Agreement.

IMF officials stated in a press conference on the economic situation in the Middle East and Central Asia that the final review of the SBA has been completed and will now be presented to the board for approval.

Officials added that Pakistan will be helped to overcome severe economic imbalances. The IMF program will help to maintain the country's economic stability, macroeconomic stability and reduce the level of budget deficit.

He continued to say that the work should continue to strengthen the fiscal situation by improving the revenue situation, the increase in revenue will allow the government to deal with the debt situation.

Officials further said that while the IMF's social assistance program could be improved, more work was needed to reform the energy sector.

He further stated that the IMF is ready to provide assistance to Pakistan whenever Pakistan demands. Pakistan's bilateral partners are also looking forward to the program to provide additional financial assistance to Pakistan.