IMF expresses satisfaction over Pakistan's mini-budget, board meeting likely next week

ISLAMABAD (92 News) - The International Monetary Fund (IMF) has expressed satisfaction over the mini-budget presented by the government.

According to sources, a meeting of the IMF Executive Board is likely to be summoned next week. After a month, an approval for USS1 billion installment will be granted.

An agreement has been reached to bring the foreign exchange reserves at par with the two-month imports. An amount of US$2.6 billion will be received by June 2023. A new application for the new loan programme will be submitted.

After receiving the funds, arrival of funds from friendly countries and international organizations will open. It will reverse the rating to touch the default.