IMF Mission Chief to Pakistan Nathan Porter said on Monday that the organisation is continuing its dialogue with the Pakistani government in order to clear the path for a Board meeting before the current programme expires at the end of June.
The priorities, according to the statement, are appropriate market functioning for foreign exchange, enactment of a budget for fiscal year 2024 that is in line with programme aims, and sufficient funding.
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He went on to say that Pakistan needs ongoing policy measures and reforms to overcome its current economic and financial issues and reestablish strong and inclusive private-led growth.
Esther Perez Ruiz, the IMF’s resident representative in Pakistan, released the statement and said it addressed a number of points raised in the media recently.
We are aware of the recent political developments, and while we do not comment on domestic politics, we do wish for a peaceful resolution in accordance with the Constitution and the rule of law.
In a broader sense, for Pakistan to regain strong and inclusive private-led growth, it will require continuous policy measures and reforms to overcome the current economic and financial issues.
In addition, the statement emphasised the importance of bolstering domestic revenue mobilisation and eliminating losses at state-owned enterprises (SOEs) to create fiscal space for long-term sustainability, lowering inefficiencies that impact the private sector, and increasing social and development spending.
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