Prime Minister Shehbaz Sharif on Wednesday expressed satisfaction over the staff-level agreement with the IMF for $1.2 billion, calling it a reflection of Pakistan’s improved macroeconomic indicators and confidence in the rapidly improving economic situation.

The prime minister, in a statement following the agreement under the Extended Fund Facility and Resilience and Sustainability Facility, said that the IMF’s satisfaction with the pace of Pakistan’s economic growth and institutional reforms was a testament to the confidence in the government’s policies.

He praised the federal finance minister, minister of state for finance, federal finance secretary, and their entire team for their hard work, which led to the finalisation of this agreement with the IMF.

“The economy is moving in the right direction,” the prime minister said vowing to take all necessary measures for Pakistan’s development and prosperity,” the prime minister remarked.