ISLAMABAD – The International Monetary Fund (IMF) on Tuesday said economyof Pakistan is improving due to steps taken by Islamabad in line with theprogramme.
“Pakistan has took collective steps to uplift ailing economy”, the missionchief of the IMF said in his review report.
Pakistan has been urged for structural reforms as this will not help incoming out of boom and bust cycle. The current account deficit is alsonarrowing.
The government has increased funds for the Benazir Income Support Programme(BISP) link, though growth is slow at the time,but it is based on the assumptions.
The IMF mission chief further added that the confidence of the investors isrestored in Pakistani economy due to steps taken by the incumbentgovernment.
He said majority of the targets of the programme have been achievedincluding foreign reserves, government loans, budget deficit and others.
On December 19, the State Bank of Pakistan’s (SBP) net reserves jumped to$10.89 billion.
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According to the central bank’s data, the country’s total foreign reservesstood at $17.65 billion.
The break-up of the foreign reserves position is as under:
Foreign reserves held by the State Bank of Pakistan: $10.89 billion. Netforeign reserves held by commercial banks: $6.76 billion
Total liquid foreign reserves: $17.65billion.
