MD of the IMF said the goal of the trust is to redistribute funds from wealthier countries to more vulnerable ones as members look to support global economic recovery from the Covid-19 pandemic.
IMF
Spikes in food and energy prices were hitting low-income countries particularly hard, and they may need more grants and highly concessional financing. Countries should undertake reforms to improve debt transparency and strengthen debt management policies to reduce risks.
The conflict is raising food and energy costs, driving inflation and eroding the value of salaries, as well as affecting commerce, supply networks, and remittances in Ukraine’s surrounding countries
IMF and the government has completed technical level-talks and now policy discussions are going on for the seventh review through virtual parleys
After the successful review, Pakistan will receive about one billion dollars (687 million) Special Drawing Rights (SDR) from the IMF.
Dr Ashfaque Hassan Khan said the relief package was discussed in detail in the last two months of the govt and it would not have negative impact on the budget deficit nor the ongoing IMF program.
Inadequate performance and poor corporate governance in Pakistan’s SOE sector, according to the IMF, pose considerable fiscal concerns.
According to SBP total liquid reserves of Pakistan have increased to US$ 23,720 million.