IMF sets strict conditions for Pakistan's $1.1 billion loan installment
The International Monetary Fund (IMF) has set strict conditions for Pakistan to receive a $1.1 billion loan installment. The government must comply with 39 requirements, including asset disclosures by civil servants and eliminating tax exemptions. Key benchmarks include maintaining foreign exchange reserves for three months of imports and achieving fiscal targets. The government has until February 2025 to meet these conditions, which also involve limiting public sector liabilities and controlling power sector arrears. Finance Minister Muhammad Aurangzeb noted recent improvements in macroeconomic stability but emphasized the need for urgent reforms in taxation and energy. Pakistan is also finalizing a 10-year partnership framework with the World Bank to support economic stability.