The International Monetary Fund (IMF) on Thursday (May 22) justified its bailout package to Pakistan saying the board was satisfied that Pakistan had indeed met all the targets as laid down by the global body as part of the funding criteria.
Responding to a question during a press conference, the IMF said, it approved Pakistan’s EEF programme in September last year and the first review at that time was planned for the first quarter of 2025.
'Our executive board completed the review on May 9, and as a result of the completion of that review, Pakistan received the disbursement", IMF said.
“In the case of Pakistan, our board was satisfied that Pakistan had indeed met all of the targets,” the IMF added.
“I want to make three important points to help you understand this. IMF financing is meant to resolve balance of payments issues only. All EFF disbursements to Pakistan go directly to the central bank’s reserves. These funds are not used for government budget financing. There is a zero limit on lending from the central bank to the government. The programme includes structural reforms to improve fiscal management,” Julie Kozack, Director, IMF Communications Department was quoted saying by Business Today.
