Thursday 27 February 2020
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Dawn News - 13 days ago

IMF mission gives sunny outlook of Pakistan s economic situation as review ends

The International Monetary Fund (IMF) concluded that Pakistan had been successful in completing the structural benchmarks as well as in meeting all end-December performance criteria which had been set for the implementation of $6 billion Extended Fund Facility programme. In a press release issued on Friday after an IMF mission concluded its review of Pakistan s economic reforms, the Fund said that constructive and productive discussions with the Pakistani authorities had been held during the delegation s visit from February 3-13. The mission acknowledged that Pakistan had made considerable progress [...] in advancing reforms and continuing with sound economic policies . The mission said that economic activity in the country has stabilised and remains on the path of gradual recovery . It also noted that the current account deficit had declined due to the real exchange rate that is now broadly in line with fundamentals . The IMF mission further said that Pakistan s international reserves were increasing at a pace considerably faster than anticipated . The press release said that in the first half of the fiscal year had been strong and that inflation was expected to decline as the shocks caused by sudden depreciation had subsided. It also stated that spending on social and development projects had increased.


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