Pakistan has potential to become world top emerging economy: IMF Chief
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ISLAMABAD: (APP) IMF Managing Director Christine Lagarde on Monday appreciated Pakistan's economic agenda saying the country was in 'better fiscal position' and had the potential to become top emerging economy of the world.
The International Monetary Fund (IMF) chief also lauded the government for coping with multiple challenges and achieving macroeconomic stability in a short period of three years.
Pakistan’s economy is in a solid position now: IMF Chief
She was addressing a seminar on "emerging markets in the world economy" organized by State Bank of Pakistan (SBP) here at a hotel.
Finance Minister Senator Muhammad Ishaq Dar and SBP Governor Ashraf Mehood Wathra also addressed the seminar.
Lagarde said,"Pakistan is now in a better fiscal position and certainly out of economic crisis."
She said before the present government came into power, Pakistan's economy was in severe crisis. However, due to the IMF funded programme and owing to the government's prudent reforms agenda, the country had achieved macroeconomic stability. It successfully completed the three-year Extended Fund Facility (EFF) programme with the IMF.
She assured that the IMF would continue to support Pakistan technically in its efforts to make the country on the path of higher economic trajectory.
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Due to the economic reforms, she said, Pakistan's foreign exchange reserves had improved, fiscal deficit had come down and circular debt had reduced significantly, besides increase in tax base and revenue collection.
She stressed the need for promotion of women education and equal job opportunities, besides access to credit and business market which would help boost the country's economy.
"Women are the game changer for Pakistan," she remarked.
Quoting Quaid-i-Azam Muhammad Ali Jinnah's saying of 'Faith, Unity and Discipline', she said if those principles were followed the country would lead to the path of economic prosperity.
Christine Lagarde said 60 per cent of 180 million population of Pakistan were youth and if their potential was fully exploited the would country would progress teremendously.
