Pakistan secures US$7b IMF loan to stabilise economy ...Middle East

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Pakistan secures US$7b IMF loan to stabilise economy
ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have agreed on a new US$7 billion loan programme to stabilise the fragile economy of the South Asian nation, reported German news agency dpa.The new 37-month deal is “subject to approval by the IMF’s Executive Board,” the IMF said in a statement.“The programme aims to capitalise on the hard-won macroeconomic stability achieved over the past year by furthering efforts to strengthen public finances, reduce inflation, rebuild external buffers, and remove economic distortions to spur private sector-led growth,” the statement said.Pakistani authorities have agreed on reforms to broaden the tax base and remove exemptions while increasin

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