<\/p>\n
The International Monetary Fund (IMF) has released the much awaited $700 million tranche, shoring up the State Bank of Pakistan\u2019s (SBP) foreign reserves.<\/p>\n
The SBP confirmed the development in a statement, adding that the tranche equivalent to $705.6 million was released on January 16 (Tuesday) \u201cfollowing the successful completion of the first review by the Executive Board of IMF under Stand By Arrangement (SBA)\u201d<\/p>\n
\u201cThe tranche release is in line with market expectations,\u201d said Yousuf M. Farooq, director of research at Chase Securities. \u201cPakistan will have to continue with a tight fiscal policy to ensure economic stability and will have to enter a new EFF IMF program as soon as this SBA ends to ensure roll over of its external debt.<\/p>\n
\u201cThe economic situation has improved significantly with Pakistan posting a current account surplus in December and a relatively stable currency. This will also ensure disinflation in coming months.\u201d<\/p>\n
Ali Farid Khwaja, Chairman, KTrade Securities Limited, said \u201cthe improvement of Pakistan\u2019s relationship with the IMF and their satisfaction with Pakistan\u2019s reforms is a great achievement, especially given where we were just six months ago.<\/p>\n
\u201cMore than just the monetary flows, it\u2019s a signal of confidence which makes Pakistan investable for other investors. This is the reason why foreign investors are investing in Pakistani stocks as well.\u201d<\/p>\n
\u201cIMF\u2019s significance is more than just the money. The reforms are not easy and hence credit goes to the interim government in implementing hard decisions. We need consistency on reforms to reestablish investor confidence which is necessary for the success of privatization plans.\u201d<\/p>\n
Khurram Schehzad, the chief executive of financial consultancy firm Alpha Beta Core, also said that the development was \u201cexpected\u201d, adding that the next review is likely to be \u201csmooth\u201d as well.<\/p>\n
\u201cThe challenge will be the new larger IMF Program under the new govt with reforms on the agenda,\u201d he added.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
The International Monetary Fund (IMF) has released the much awaited $700 million tranche, shoring up the State Bank of Pakistan\u2019s (SBP) foreign reserves. The SBP confirmed the development in a statement, adding that the tranche equivalent to $705.6 million was released on January 16 (Tuesday) \u201cfollowing the successful completion of the first review by the […]<\/p>\n","protected":false},"author":2,"featured_media":48996,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.dawn.com\/large\/2024\/01\/17164933d6bd8c0.png?r=165017","fifu_image_alt":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-48995","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t