Government and IMF agreement declaration issued

 Government and IMF agreement declaration issued

The IMF's emphasis on spending cuts and revenue growth must be "taxed from high-income earners" and resources must be created for social security schemes. Demand in a statement issued by the International Monetary Fund

ISLAMABAD: An agreement between the government and the International Monetary Fund (IMF) has been announced. According to details, an agreement has been reached between Pakistan and the International Monetary Fund (IMF) under which Pakistan will receive ارب 1.17 billion. The seventh and eighth review issues have been settled under the FF, but the final approval of the agreement will be given by the IMF Board. The IMF statement said that Pakistan needs to maintain a consistent supply-demand exchange rate, along with diligent monetary policy and improve the performance of government institutions, global inflation and delays in key decisions. Foreign exchange reserves declined, while oversupply accelerated the economy and led to a large deficit in external payments. In a statement, the IMF said Pakistan would have ارب 1.17 billion available, but would have to adhere strictly to the current budget, with the provinces reporting budget deficits.