WASHINGTON: The International Monetary Fund (IMF) emphasised on Thursday that prioritising reforms to revitalise the Pakistani economy outweighs the size of the new loan package being negotiated.

“I think what is important at this stage is to accelerate the reforms, double down on the structure of reforms in order to provide Pakistan with its full potential of growth,” IMF’s Middle East and Central Asia Director Jihad Azour said at a news conference in Washington.

The IMF official’s comment followed Finance Minister Muhammad Aurangzeb’s recent announcement that Pakistan was pursuing a significant, extended loan package with the IMF.

If approved, the proposed three-year package, Pakistan’s 24th with the IMF, could range between $6 to $8 billion, marking the country’s largest loan to date.

While in Washington for the World Bank group’s spring meetings, Mr Aurangzeb emphasised Pakistan’s commitment to entering negotiations for a new agreement with the IMF during discussions with multilateral and bilateral donors.

Aurangzeb rules out sharp rupee devaluation with new bailout programme

Additionally, he reassured the IMF that Pakistan would vigorously implement the reforms pledged in the current programme ending this month and those outlined in the new........

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