IMF Director said that the recent loan program gave Pakistan an opportunity to stabilize its economy.
Washington: The International Monetary Fund (IMF) confirmed that Pakistan's expressed interest in obtaining a new bailout package and also expressed its willingness to cooperate with Pakistan.
Director of the IMF's Middle East and Central Asia Department, Jihad Azur, said in his statement that the recent loan program gave Pakistan an opportunity to stabilize its economy. The last review of Pakistani economy was successful. Improvements in foreign exchange reserves and growth prospects have also improved.
He stated that Pakistan's bilateral partners are also looking forward to providing additional financial support. The final review will be presented to the Board for approval.
According to the IMF director, reforms in the energy sector are an important need and priority, and more attention should be paid to the private sector and exports.
Director IMF further said that the purpose of the new program by Pakistan is to get help in dealing with some important economic challenges. This program will help Pakistan to maintain its economic stability.
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