Macroeconomic stability unachievable without IMF program: PM

On Thursday, Prime Minister Shehbaz Sharif stated that the nation’s financial stability needed to be further advanced. He indicated that this could not be done without a second IMF rescue plan.
Pakistan was officially seeking its 24th medium-term rescue package for a sustained drive towards long-standing structural reforms, the IMF revealed a day ago, concurrent with the announcement of the staff-level agreement (SLA) on the successful conclusion of an existing short-term facility.
Subject to the executive board’s approval, the staff-level agreement would allow Pakistan to access around $1.1 billion, or 828 million special drawing rights (SDR), by late April, the IMF stated in its end-of-mission statement.
The finance ministry was commended by PM Shehbaz for concluding the SLA with the IMF.