NEW YORK, April 18 (Alliance News): Federal Finance Minister Senator Muhammad Aurangzeb has said that Pakistan has reached a staff-level agreement with the International Monetary Fund (IMF), with approval from the Executive Board expected soon, after which the next tranche of funding will be released.
He made these remarks during a meeting with representatives of S&P Global Ratings in New York, where discussions focused on Pakistan’s economic recovery and its return to global financial markets.
The Finance Minister said Pakistan successfully repaid a $1.4 billion Eurobond this month, reflecting improved external stability.
He also noted Saudi Arabia’s additional $3 billion financial assistance and the extension of a $5 billion deposit until 2028, saying these steps will further strengthen Pakistan’s external financial position.
Aurangzeb also highlighted Pakistan’s medium-term fiscal strategy, adding that improving economic indicators and ongoing reforms are key factors supporting the country’s credit outlook and rating prospects.
