No room for policy slippages, IMF says

MG News | September 28, 2024 at 04:17 PM GMT+05:00

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September 28, 2024 (MLN): The Executive Directors of the International Monetary Fund (IMF) said that given Pakistan's ambitious growth projections, "there is no room for policy slippages without undermining debt sustainability."

The global lender made these remarks in a detailed report released after approving Pakistan’s request for a $7 billion, 37-month Extended Fund Facility (EFF).

IMF Directors urged steadfast execution of the planned continued consolidation in the FY25 Budget and underscored the need for sustained gradual consolidation, underpinned by strengthening of fiscal institutions, to durably improve debt sustainability.

Directors supported continued tight and data-driven monetary policy to ensure that inflation continues moving toward the target range on a sustained basis.

They emphasized the importance of allowing the exchange rate to serve as a shock absorber, buffering competitiveness and helping rebuild reserves.

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