ISLAMABAD, July 12 (APP): Prime Minister Muhammad Shehbaz Sharif on Wednesday said that the approval of the International Monetary Fund’s (IMF) executive board for a Stand-by Agreement of $3 billion, a little while ago, was a major step forward in the government’s efforts to stabilise the economy and achieve macroeconomic stability.
On his Twitter handle, the prime minister said that the agreement would bolster Pakistan’s economic position to overcome immediate- to medium-term economic challenges, giving next government the fiscal space to chart the way forward.
He further said that this milestone, which was achieved against the heaviest of odds and against seemingly impossible deadline, could not have been possible without excellent team effort.
The prime minister commended Finance Minister Ishaq Dar and his team at the ministry of finance for their hard work.
He also conveyed his special thanks to Managing Director IMF Kristalina Georgieva and her team for their support and cooperation.
