The International Monetary Fund (IMF) has said that Pakistan must speed up the implementation of policies and reforms to deal with some of the long-standing challenges facing the country’s economy.
Director Communications Department IMF, Gerry Rice, whereas responding to a query during a press conference, said that the Fund is holding open, constructive discussions with Pakistan as a part of the sixth review of the country’s 39-month, $6 billion Extended Fund Facility (EFF) program.
Responding to another question seeking clarity on an opposition party leader’s remarks that the IMF has stopped its disbursement on the $6 billion programs, Rice declined to say if disbursements under the EFF program had been halted however mentioned that they’re in discussions with the Pakistani authorities on the next review. “The discussions are constructive and that is where we are,” he added.
“We welcome the open constructive discussions we are having with the Pakistani authorities. We stand ready to continue to support Pakistan in attaining its objectives of debt sustainability and strong sustainable growth. This will require continued discussions on the sustainable fiscal fast structural reforms, particularly on the tax and energy sector, and social spending enhancement envisaged in authorities’ reforms program that is supported by the IMF resources,” said Rice.
He further mentioned that because the recovery gains strength, it will be important to speed up the implementation of policies and reforms needed to address some of the long-standing challenges facing the Pakistani economy.