Pak-IMF deal to reach soon, says SBP chief.

ISLAMABAD -- State Bank of Pakistan (SBP) GoverAnor Jameel Ahmed on Wednesday said that Pakistan and InternationAal Monetary Fund (IMF) would soon reach a staff level agreement, which would revive the loan programme.

He made these remarks during a meeting of the Senate Standing Committee on Finance, which was chaired by Saleem Mandviwalla.

The Governor SBP informed that Pakistan was very close to finalAizing a broader financing agreeAment with the IMF. He announced that the country's foreign exAchange reserves held by the cenAtral bank has gone up by $1.5 bilAlion in just one month, bringing the total to $4.3 billion. He expressed his confidence that foreign exchange reserves would continue to increase by June 30 of this year. He further said that the economy is curArently facing many external and internal challenges and the Ukraine war has increased prices of goods, which also led to inflation in Pakistan. He said this year's current account deficit was estimated to be $10 billion. He said the current account deficit is low due to the policy measures taken by the government and the State Bank, adding the current acAcount deficit will remain up to $7 billion by the end of this fisAcal. It was also informed that imports will also be revived with the...