All the friends of Pakistan had asked it to work with the IMF, according to diplomatic sources. Prime Minister Shehbaz Sharif lauded the finance and foreign office teams led by ministers Miftah Ismail and Bilawal Bhutto-Zardari for their efforts in having the IMF programme revived. The international community believes that Pakistan needs reforms under the IMF programme -- even more than its money. However, the country remained in turmoil and despite remaining in the IMF programme, its foreign exchange reserves remained thin amid heightened external debt-related vulnerabilities. Similarly, the IMF added that the recent monetary policy increase was necessary and appropriate.

Source: The Express Tribune July 16, 2022 04:35 UTC