Finance Minister Muhammad Aurangzeb credited the approval of Pakistan’s IMF bailout package to US assistance and Chinese cooperation.
Moreover, the first tranche of $1 billion has been released under the new 37-month loan program.
In an interview with Voice of America, the minister highlighted that US involvement and China’s support played a key role in securing the program.
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In addition, he highlighted the need for economic reforms, stating that the government has no option but to implement fundamental changes.
Furthermore, the IMF noted Pakistan’s economic growth had reached 2.4 per cent, with inflation declining, but significant challenges like a difficult business environment and a narrow tax base remain.
