PM Shehbaz thanks ‘friendly countries’ for support with IMF loan

Following an IMF announcement that Pakistan’s case would be taken up by its board later this month, Prime Minister Shehbaz Sharif on Thursday expressed gratitude to some friendly countries, which had monetarily supported Pakistan in its negotiations with the lender. “Our friendly and brotherly countries have come all the way to support us again,” he said while chairing a meeting of the federal cabinet. Pakistan has now met the prerequisites to secure a loan from the IMF, he said. He also welcomed the State Bank of Pakistan’s (SBP) decision to reduce the policy rate from 19.5 to 17.5 per cent, expressing optimism that this move would stimulate exports, investment, business, agriculture, and overall economic growth in the country.