IMF aims to place Pakistan on a stable financial platform

May 24, 2019 (MLN): The International Monetary Fund (IMF) has said that it’s recent extension of financial support to Pakistan is aimed at improving Pakistan's public finances, reducing public debt and helping the country get back on the path to a sustainable, more inclusive growth.

“We hope that the program can also create fiscal space for a substantial increase in social spending, to strengthen social protection, as well as infrastructure and other human capital development,” said the Fund’s representative.

At one of their press briefing held yesterday i.e. May 23, 2019, a reported asked the Fund for an update on its recent deal with Pakistan.

Mr. Gerry Rice of the Communication Department at IMF, responded with an update on the staff level meeting held between the two parties where it was agreed that the IMF would provide a $6 billion, three-year extended Fund facility to support Pakistan’s reform efforts.

He also informed the press that prior to this meeting, Managing Director, Christine Lagarde, had met with Prime Minister Imran Khan.

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