ISLAMABAD – International Monetary Fund has an advice for Pakistangovernment over the weak economic conditions.
The International Monetary Fund (IMF) asked Pakistan to increase buffersin order to absorb unexpected internal and external shocks to the economyas it faced criticism from parliamentarians for designing a programme thatcaused difficulties for the people and businesses.
The IMF has also ruled out any revision in its programme targets withPakistan and generally appreciated the progress shown by the authoritiestowards stabilisation of macroeconomic indicators and their initialencouraging results.
An eight-member IMF delegation, led by Director for Middle East and CentralAsia Jihad Azour and accompanied by mission chief to Pakistan ErnestoRamirez-Rigo, had hectic meetings, including one with Prime Minister ImranKhan, and was encouraged by his commitments to push forward economic andinstitutional reforms as envisaged in the Fund programme.
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The IMF team held meetings with various economic managers, includingAdviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh, State Bankof Pakistan governor Dr Reza Baqir and members of the National Assembly’sStanding Committee on Finance.At a joint news conference with Dr Shaikh in the evening, Azour said theIMF staff mission would visit Pakistan by the end of October or earlyNovember for the first quarterly review under the $6bn Extended FundFacility, adding that things were moving in the right direction and therewas no need to reset the targets.
