In a statement released on Friday, the IMF’s mission chief Nathan Porter stated that for Pakistan to regain macroeconomic stability and advance its sustainable development successfully, timely and decisive implementation of policy measures and resolute financial support from official partners are essential.
Prime Minister Shehbaz Sharif’s commitment to putting policies in place that are necessary to “safeguard macroeconomic stability” was welcomed in the statement, which was released after the mission’s 10-day visit to Pakistan.
Moreover, he thanked the authorities for their “constructive discussions.”
Regarding “policy measures to address domestic and external imbalances,” Porter stated that “considerable progress” had been made during the discussions with Pakistani officials.
The IMF mission chief emphasized that the “key priorities include strengthening the fiscal position with permanent revenue measures and reduction in untargeted subsidies, while scaling up social protection to help the most vulnerable and those affected by the floods; allowing the exchange rate to be market determined to eliminate the foreign exchange shortage gradually; and enhancing energy provision by preventing further accumulation of circular debt and ensuring the v.
Porter stated that for Pakistan to regain macroeconomic stability and advance its sustainable development successfully, “the timely and decisive implementation of these policies along with resolute financial support from official partners are critical.”.
To finalize the “implementation details” of the policies, the IMF mission chief stated that the “virtual discussions” between the two parties would continue in the upcoming days.
