Talks Underway to ‘Quickly’ Reach Agreement with Pakistan: IMF

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 IMF Resident Representative in Pakistan Esther Perez Ruiz. In his statement, Porter said that in recent days Pakistani authorities have taken decisive measures to bring policies more in line with the economic reform program supported by the IMF. The measures included 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,” read the statement made by the IMF Mission Chief.