New York (Commerce Desk): International Monetary Fund Managing Director Kristalina Georgieva has expressed satisfaction with Pakistan’s economic reform programme, saying that fiscal discipline, foreign reserves and investor confidence have improved.
According to an Arab News report, during a meeting with Prime Minister Shehbaz Sharif, Kristalina Georgieva said that implementation of Pakistan’s strong reform programme had helped promote economic stability.
According to the report, the introduction of a new national revenue system, an increase in domestic revenue and progress in privatization are also part of the government’s reform efforts. The IMF chief said that continued reforms had helped Pakistan maintain economic stability, restore confidence and regain access to international financial markets.
According to Kristalina Georgieva, maintaining the reform process could contribute to economic growth and improvements in people’s living standards, while further measures would help accelerate Pakistan’s economic growth.
According to the report, the IMF has begun negotiations on the fourth review of Pakistan’s $7 billion economic programme and the third review of the $1.4 billion Resilience and Sustainability Facility. Successful completion of both reviews could pave the way for approximately $1.2 billion in new financial assistance for Pakistan.
During his meeting with the IMF chief, Prime Minister Shehbaz Sharif also expressed his commitment to implementing the ongoing reform programme with the institution’s support.