LAHORE: The International Monetary Fund’s (IMF) communications department’s head Gerry Rice has said that the recent bailout package is aimed at helping Pakistan get back on the path of inclusive growth and that it will stabilize country’s ailing economy.
While briefing the media on Friday on Pakistan 13th IMF-bailout package, Rice disclosed that the bailout package worth $6 billion has been finalized with Islamabad, and the staff-level negotiations were completed on May 12.
The IMF spokesperson further maintained that the global money lender wants economic reforms in Pakistan, and the country will make progress after the bailout package.
“We hope that the program can also create fiscal space for a substantial increase in social spending, to strengthen social protection, as well as infrastructure and other human capital development,” said Rice.
Development in Pakistan’s infrastructure and social departments will be possible as the pressure of debts will reduce, he concluded.
