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IMF acknowledges progress in economic reforms in Pakistan

The World Monetary Fund (IMF) has acknowledged progress in economic reforms in Pakistan.

During a press briefing in Washington, IMF Director Communications Jerry Rice said the IMF’s staff mission is in Pakistan and talks with Pakistani officials are ongoing.

He said that another review of the Pakistani economy is being conducted under the IMF program and detailed consultation on economic health is underway under Article Five.

On the other hand, Pakistani Ministry of Finance officials say talks between Pakistan and the IMF are likely to be successful today, acknowledging the IMF’s progress in economic reforms in Pakistan.

He said the IMF has had a heated debate on the issue of electricity, gas prices and circular lending, as well as assurance of increased non-tax revenue, including privatization of public institutions.

Finance officials say tax revenues and remittances are also on the rise, but the IMF called on Pakistani authorities to increase tax revenue.

Remember that Pakistan is likely to receive the next $ 45 million installment on the success of other economic review talks.

On July 3, 2019, the IMF approved a $ 6 billion loan for Pakistan, which will be issued periodically in three years time.

Pakistan has so far received two installments of $ 1.4 billion in loans from the IMF.


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