He told reporters that unlike Jamaica, Barbados, Grenada, Trinidad and Tobago is not in any IMF
programme, noting that the last time Port of Spain was in an IMF
programme was in the 1980s.
In this regard, the IMF
Resident Representative Office has informed the Federal Board of Revenue (FBR) in writing.
The decision of Lagarde has been accepted by the fund, according to IMF
Executive Board press statement received here Wednesday following the nomination of Lagarde to the presidency of the ECB.
In October 2018, Pakistan had formally approached International Monetary Fund (IMF
) for bailout package to avert the balance of payment crisis.
The government in its budget proposals for the next financial year has added Rs357 billion loan from the IMF
. An IMF
team will visit Islamabad every three months to review the economic indicators of the country.
board will approve $6 billion bailout package for Pakistan in three years under the extended fund facility.
projects its growth rate will be 7.5pc in 2020.
Reacting to the agreement, PML-N Spokesperson Marriyum Aurangzeb said it was better for Prime Minister Imran Khan "to have committed suicide [making good on his promise] than to have agreed to the $6 billion deal" with the IMF
Spokesperson of Pakistan Muslim League-N Marriyum Aurangzeb said: 'The deal of IMF
with the IMF
has been successful and now an inflation bomb will be dropped on the people of Pakistan.
" Senior Pakistan Peoples' Party leader Khursheed Shah said, "Following the deal with the IMF
, unbearable inflation will be seen in the country." "It seems that a tsunami of inflation will emerge out of the IMF
bailout package," said PPP's Sherry Rehman and hoped that the 'tsunami' will not make the people slaves of the IMF
A lot is riding on this package and the Asian Development Bank (ADB) has also hinted at providing budgetary support following an agreement on the IMF
They added that the country did not have any other option but to concede to the IMF
's demands to remain afloat.