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Pakistan’s future outlook shines bright: IMF Executive Director

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December 08, 2023 (MLN): The actions and policies of Pakistani authorities have resulted in an overall improvement in the economic situation and with the ongoing developments, the future outlook for the country appears very bright, Bahador Bijani, Executive Director of International Monetary Fund (IMF) made these remarks during an event on Thursday.

According to a press release issued on the same day, an event was hosted in honor of friends of Pakistan from the International Financial Institutions, including the International Monetary Fund (IMF), International Finance Corporation (IFC), World Bank (WB), and Multilateral Investment Guarantee Agency (MIGA), at Pakistan House.

These authorities shared their remarks on the ongoing economic landscape of the nation and the outlook for the future.

Addressing a gathering of over 40 guests from the IFIs, Masood Khan, Pakistan’s Ambassador to the United States, underscored the challenges the country has faced in the past year.

He emphasized that the economy has navigated a challenging transition and is now progressing toward a new phase of stability.

“Have faith in Pakistan. Our country is destined to succeed,” he said. “Our confidence stems from the people of Pakistan. We have a growing middle class and our human capital is increasing at a very fast pace,” he added.

Nathan Porter, International Monetary Fund (IMF) Mission Chief to Pakistan, speaking on the occasion also expressed satisfaction over the recently concluded staff-level agreement.

He said that the actions and policies of the current government reflected its commitment to steer the country towards stabilization.

“With that base, hopefully, we can build on and be able to move forward to reforms to build a stronger, prosperous and inclusive Pakistan,” he added.

He also appreciated the cooperation and the policies pursued by the State Bank of Pakistan for ensuring fiscal stability in the country.

Athanasios Arvanitis, Deputy Director Middle East and Central Asia Department IMF, speaking on the occasion, expressed the hope that the elections in Pakistan would usher into a new beginning of undertaking a reform process that the country needed to make progress and address some of its structural issues.

Thanking them for their strong support, Ambassador Masood Khan observed that the digitization of the Pak economy was creating new opportunities in the country for its youth and professionals taking the lead role in steering the country towards a bright future.

Lauding the professional achievements of Pakistanis working in the IFIs, the Ambassador observed that Pakistani professionals have proved their mettle and have made the entire nation proud of their accomplishments.

“We are a nation of talented people. If you can make it, Pakistan will also make it,” observed the Ambassador.

Syed Ali Abbas, Advisor Mission Chief UK, European Department IMF, in his remarks, expressed the hope that with the successful completion of the electoral process in Pakistan, the country would move towards a long-term and more durable approach that would change the trajectory of Pakistan.

Aftab Qureshi from the World Bank and Sidra Rehman from the IMF also spoke on the occasion and assured their continued cooperation.

The Ambassador thanked the members of the IFIs and said that the country looked forward to working with its development partners.

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Posted on: 2023-12-08T11:28:55+05:00