Julie Kozack, the Communications Department Director at the IMF, affirmed in a recent press briefing that ongoing discussions center on policy objectives and strategies forming the framework of a future reform program tailored for Pakistan. This prospective program aims to be supported by the IMF’s Extended Fund Facility (EFF).
Kozack emphasized that the proposed reform agenda aims to solidify Pakistan’s economic credibility through the continued adoption of prudent policies. The ultimate goal is to transition the country from economic stabilization towards robust, inclusive, and resilient growth. She underscored that enhancing the living standards of Pakistan’s populace remains a primary focus of these deliberations.
Regarding recent developments, Kozack highlighted a mission to Islamabad from May 13 to May 23, underscoring ongoing talks on policy objectives crucial for a medium-term reform plan. Addressing inquiries about prior actions and the upcoming budget for 2024-25, she mentioned that discussions are ongoing between IMF staff and Pakistani authorities, promising updates as more information becomes available.
Reflecting on past agreements, Kozack referenced the 2023 Stand-by Arrangement (SBA) for Pakistan, which aimed to restore stability. Looking ahead, she stressed the imperative of maintaining and expanding this stability to establish a foundation for sustainable economic growth.
