Pakistan still faces economic challenges, says IMF chief

IMF

ISLAMABAD: International Monetary Fund (IMF) chief Christine Lagarde has said that Pakistan still faces economic challenges despite improvements in the sector, ARY News reported.

Lagarde, in a meeting with Finance Minister Ishaq Dar congratulated Pakistan on successfully completing the IMF bailout. She also said that that the country’s economy has improved but it still faces economic challenges.

She lauded the efforts for setting in place a strong macroeconomic framework and said that this foundation possesses the drivers for sustained growth. She acknowledged that in these times of slow global growth, the government’s ambitious development plan has provided the country with an opportune moment to emerge as a middle income country with a resilient economy and sustained growth.

MD IMF said that Pakistan had undertaken deep rooted structural reforms during the three-year Extended Fund Facility of the IMF, including reduction in budget deficit, reform of the power sector, broadening of tax base and improvement in revenue collection.

The IMF chief recommended that Pakistan should introduce further structural reforms.

Christine Lagarde, who is in the capital on her first official visit, said Pakistan was ‘out of an economic crisis’ during a meeting with Prime Minister Nawaz Sharif.

She said Pakistan’s fiscal deficit has reduced and inflation declined in the recent years.

The post Pakistan still faces economic challenges, says IMF chief appeared first on ARY NEWS.

Click Here To Read Complete Story

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s