ISLAMABAD: The newly agreed International Monetary Fund (IMF) program with Pakistan will help improve the country’s economy and development, International Financial Rating Agency Moody’s says.
In its report‚ the rating agency says with the payment of two point one billion dollars installment of loan by Pakistan through IMF will help reduce budget deficit.
It said the payment of installment will also help in reducing current deficit of the country.
The report expresses hope that the IMF board will approve the loan program with Pakistan.
According to Moody’s‚ Pakistan’s foreign exchange reserves on 21st of June stood at 6.3 billion dollars and payment of two point one billion dollar debt installment can increase pressure on its reserves.