ISLAMABAD: The International Monetary Fund (IMF) continues discussions with Pakistani authorities with the aim of quickly reaching an agreement on financial support from the Fund.
This was stated by Nathan Porter, IMF Mission Chief through a statement issued by the Esther Perez Ruiz IMF Resident Representative in Pakistan.
The statement indicated that the Staff level agreement under the Extended Fund Facility (EFF) of the Fund programme is yet to be reached.
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The statement noted, “Over the past few days, the Pakistani authorities have taken decisive measures to bring policies more in line with the economic reform program supported by the International Monetary Fund (IMF), including the passage of a budget by the parliament that broadens the tax base while opening up space for higher social and development spending, as well as steps towards improving the functioning of the foreign exchange market and tightening monetary policy to reduce inflationary and balance of payment pressures that affect particularly the more vulnerable.
“The IMF team continues discussions with Pakistani authorities with the aim of quickly reaching an agreement on financial support from the IMF”.
Copyright Business Recorder, 2023
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