IMF MD links bailout package to tax fairness, economic recovery

The IMF has approved a $7 billion loan for Pakistan to help with economic recovery and tax fairness. The loan is linked to reforms and commitments by the government to broaden the tax base and implement other measures. The first tranche of $1.1 billion is expected to be released soon. The IMF Managing Director, Kristalina Georgieva, met with PM Shehbaz Sharif to discuss the program and the country’s economic goals. The loan comes after Pakistan faced economic challenges due to mismanagement, the Covid-19 pandemic, and other factors. The government is focused on implementing structural reforms and promoting private sector development with the support of friendly countries and the IMF.