Article source
IMF Survey Magazine
Article date
Tue, Sep 3, 2013
The IMF's Executive Board has approved today a $6.6 billion loan for Pakistan to support its program to stabilize the economy and boost growth while expanding its social safety net to protect the poor.
The 36-month program under the IMF’s Extended Fund Facility aims at bringing down inflation and reducing the fiscal deficit to more sustainable levels. The program also includes measures to help achieve higher and more inclusive growth, in particular through addressing bottlenecks in the energy sector.
Speaking to the IMF Survey, Jeffrey Franks, the IMF’s mission chief for Pakistan, explains the underlying reasons for the loan and the main ingredients and goals of the IMF-supported program.