FORESIGHT EP IMF REVIEW AND PAK ECONOMY

Описание: 12-01-2024 (FRIDAY)
FORESIGHT EP 39
The Executive Board of the International Monetary Fund (IMF) completed the 1st review of Pakistan's economic reform program supported by IMF's Stand By Arrangement (SBA) today. The Board's approval allows for an immediate disbursement of SDR 528 million (around US$ 700 million) bringing the total disbursements under the SBA to US$ 1.9 billion. The Inter¬national Monetary Fund (IMF) included Pakistan on its Executive Board agenda for January 11. During this meeting, the board was set to deliberate and potentially grant final approval for the disbursement of the next $700 million tranche under the existing $3 billion Stand-By Arrangement (SBA). The current IMF programme, amounting to $3bn, is expected to conclude in the second week of April, with approximately $1.8bn remaining undisbursed. The initial tranche of $1.2bn was released in July. In November 2023, a Staff-Level Agreement was reached between the IMF staff and Pakistani authorities regarding the first review under Pakistan’s SBA. This agreement is contingent upon approval by the IMF’s Executive Board. Despite expectations for board approval in December, the process was scheduled for Jan 11. This development holds significance for Pakistan’s economic landscape as the disbursement of the next tranche could provide much-needed financial support. The outcome of the meeting will shape the trajectory of the ongoing economic cooperation between Pakistan and the IMF. “Discussions between the IMF staff and the authorities on policies to strengthen macroeconomic stability in the coming year continue, and important progress has been made over the FY23 budget,” the IMF said in another statement. The IMF also updated economic projections and data for Pakistan, depicting a challenging outlook for the country in 2024. According to the IMF’s latest figures, the projected real GDP for the year is anticipated to experience a contraction of 0.5pc, indicating potential economic headwinds. Simultaneously, the projection for the Consumer Price Index in 2024 shows a significant increase. This suggests a substantial rise in inflation, posing additional challenges for the country’s economic stability.
Host: Faisal Raza Khan
Participants: Dr. Khalid Waleed, Hassan Khan, Dr. Hasnain Javed
Executive Producer: Aziz Danish
Producer: Tariq Theraj
Social Media Coordinator: Shehla Bano
Under the guidance: Incharge PTV World, Muhammad Ilyas Khan
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