Pakistan Claims It Has Met All Of IMF’s Conditions For $7-B Loan

Pakistan's Prime Minister Shehbaz Sharif has announced that the country has fulfilled all conditions set by the International Monetary Fund (IMF) to secure a $7 billion loan aimed at stabilizing its economy, the Associated Press (AP) reported.

The IMF had requested that Pakistan broaden its tax base and remove energy subsidies—policies Sharif’s government has implemented, sparking concerns among citizens struggling to pay higher energy bills. I Photo: Mariyam Aftab

During a Cabinet meeting, Sharif praised his finance team and advisers for meeting the IMF’s requirements. The global lender is expected to grant formal approval for the loan on September 25, when its board of executive directors meets.

Sharif also thanked China for its assistance in helping Pakistan secure the bailout but declined to provide specific details.

The IMF had requested that Pakistan broaden its tax base and remove energy subsidies—policies Sharif’s government has implemented, sparking concerns among citizens struggling to pay higher energy bills.

Pakistan’s Finance Ministry issued a statement on saying that all matters with the IMF had been resolved "amicably."