<p>Washington: The International Monetary Fund said on Tuesday its staff and Pakistani authorities reached a staff-level deal that will give the country access to about $1 billion under an extended fund facility arrangement once approved.</p><p>"Over the past 18 months, Pakistan has made significant progress in restoring macroeconomic stability and rebuilding confidence despite a challenging global environment," the IMF said in a statement.</p><p>Pakistan's inflation is likely to remain steady in March, in the 1 per cent to 1.5 per cent range, the country's finance ministry said in its monthly economic outlook, after slowing to its lowest level in almost a decade the previous month.</p><p>"Upon approval (by IMF board), Pakistan will have access to about $1 billion under the EFF, bringing total disbursements under the program to about $2 billion," the IMF said.</p>.Pakistani oppn holds rallies to demand PM step down.<p>Inflation in the South Asian country has been declining for several months, hitting 1.5 per cent in February, after it soared to around 40 per cent in May 2023.</p><p>Pakistan says its $350 billion economy has stabilized under a $7 billion IMF bailout that had helped it stave off a default threat.</p><p>"While economic growth remains moderate, inflation has declined to its lowest level since 2015, financial conditions have improved, sovereign spreads have narrowed significantly, and external balances are stronger," the IMF said about Pakistan.</p><p>Islamabad had been awaiting the IMF agreement on the first review of the bailout and disbursement of $1 billion ahead of the country's annual budget, usually presented in June.</p><p>The IMF statement also noted what it called elevated downside risks such as "geopolitical shocks to commodity prices, tightening global financial conditions, or rising protectionism."</p><p>It said such risks could undermine Pakistan's "hard-won macroeconomic stability."</p>
<p>Washington: The International Monetary Fund said on Tuesday its staff and Pakistani authorities reached a staff-level deal that will give the country access to about $1 billion under an extended fund facility arrangement once approved.</p><p>"Over the past 18 months, Pakistan has made significant progress in restoring macroeconomic stability and rebuilding confidence despite a challenging global environment," the IMF said in a statement.</p><p>Pakistan's inflation is likely to remain steady in March, in the 1 per cent to 1.5 per cent range, the country's finance ministry said in its monthly economic outlook, after slowing to its lowest level in almost a decade the previous month.</p><p>"Upon approval (by IMF board), Pakistan will have access to about $1 billion under the EFF, bringing total disbursements under the program to about $2 billion," the IMF said.</p>.Pakistani oppn holds rallies to demand PM step down.<p>Inflation in the South Asian country has been declining for several months, hitting 1.5 per cent in February, after it soared to around 40 per cent in May 2023.</p><p>Pakistan says its $350 billion economy has stabilized under a $7 billion IMF bailout that had helped it stave off a default threat.</p><p>"While economic growth remains moderate, inflation has declined to its lowest level since 2015, financial conditions have improved, sovereign spreads have narrowed significantly, and external balances are stronger," the IMF said about Pakistan.</p><p>Islamabad had been awaiting the IMF agreement on the first review of the bailout and disbursement of $1 billion ahead of the country's annual budget, usually presented in June.</p><p>The IMF statement also noted what it called elevated downside risks such as "geopolitical shocks to commodity prices, tightening global financial conditions, or rising protectionism."</p><p>It said such risks could undermine Pakistan's "hard-won macroeconomic stability."</p>