The International Monetary Fund (IMF) has stated that Pakistan needs to accelerate the implementation of policies and reforms to address some of the long-standing challenges facing the country’s economy.
ALSO READ
IMF’s Program is Intact, Next Review will be in August: Finance Ministry
Director Communications Department IMF, Gerry Rice, while responding to a question during a press conference, stated that the Fund is holding open, constructive discussions with Pakistan as part of the sixth review of the country’s 39-month, $6 billion Extended Fund Facility (EFF) program.
Responding to another question seeking clarity on an opposition party leader’s remarks that the IMF has stopped its disbursement on the $6 billion programs, Rice declined to say if disbursements under the EFF program had been halted but said that they are in discussions with the Pakistani authorities on the next review. “The discussions are constructive and that is where we are,” he added.
“We welcome the open constructive discussions we are having with the Pakistani authorities. We stand ready to continue to support Pakistan in achieving its objectives of debt sustainability and strong sustainable growth. This will require continued discussions on the sustainable fiscal fast structural reforms, particularly on the tax and energy sector, and social spending enhancement envisaged in authorities’ reforms program that is supported by the IMF resources,” said Rice.
He further said that as the recovery gains strength, it will be important to accelerate the implementation of policies and reforms needed to address some of the long-standing challenges facing the Pakistani economy.
ALSO READ
Govt Disagreed to IMF’s Demand to Increase Taxes: Shaukat Tarin
When asked about the inconclusive talks for the 6th review, Rice said that the Fund remains fully engaged with the Pakistani authorities aiming to resume discussions in the period ahead.
“We are in discussion with Pakistan on the next review, and the discussions are constructive,” he added.
