International Monetary Fund’s (IMF) Mission Chief for Pakistan, Nathan Porter recently hinted that the ongoing loan program could be the last one if it fully implements all economic recommendations.
In an interview with Voice of America, Porter discussed Pakistan’s economic challenges and the IMF’s role in stabilizing the economy. He also confirmed that the First Review would begin in December and likely conclude in March-April 2025.
Following the approval of the $7 billion IMF program, Prime Minister Shehbaz Sharif had stated it would be Pakistan’s final one. The IMF Mission Chief has echoed this sentiment and said this could become a reality if Pakistan sincerely commits to economic reforms. He noted that after the economic instability in mid-2023, Pakistan has achieved a degree of stability.
Porter highlighted the IMF’s focus on maintaining a stable exchange rate and sound fiscal and monetary policies while encouraging private sector growth to drive development. He rejected claims that the program was overly harsh and defended the agency for tailoring loan programs based on a country’s needs.
On Chinese loans to Pakistan, Porter reiterated that the IMF’s stance remains consistent with loans from other countries.
He stressed the need for an effective tax system particularly targeting the agriculture, retail, and property sectors to alleviate pressure on ordinary citizens.
Porter attributed the decline in foreign investment to excessive government interventions and recommended minimal involvement, reforms in public institutions, and a reduction in power generation costs to attract investment.
The IMF plans to release a detailed report on these issues soon.
yes but they to tight lock the jail and give keys to hafiz sb
Pakistan Zindabad
Could be =/=is
IMF chief doesn’t know that government’s corruption and lavishness is on promax level.
Milestones should be set for Pakistan’s growth, and every government should be committed to following them. Achieving sustainable economic growth is far more challenging than, perhaps, becoming a nuclear power. There should be no compromises in pursuing this goal
IMF should go for audit of PAkstan from day one since it started taking loan. Assess the assets if every Politician / Generals / beaurocrats / judges / businessmen / etc etc to see how the have become billionairs and ask for the money trail. If they fail to provide money trails jail them with vvvv sever punishment so that stolen and money laundered can be recovered.
We all know Paksitani goverenment (Wich ever) is insincere to revover the stolen wealth, so for this IMF is requested to do the needful by taking pity on Pakistan and its poor people