According to a statement made public on Friday by Nathan Porter, head of the IMF mission in Pakistan, prompt and decisive implementation of policy measures and steadfast financial support from official partners are necessary for Pakistan to successfully progress its sustainable development.
Following a 10-day visit to Pakistan, the IMF released a statement commending Prime Minister Shehbaz Sharif for his commitment to implementing the measures necessary to “safeguard macroeconomic stability.”
Additionally, he expressed gratitude to the authorities for their “productive dialogue.”
According to Porter, the discussions with Pakistani authorities yielded “significant progress” in implementing policy measures to tackle “domestic and external imbalances.”
The IMF mission leader stressed the need to prioritize “fiscal strengthening through permanent revenue measures, cutting untargeted subsidies, expanding social protection for flood victims and the vulnerable, letting the market determine the exchange rate to slowly resolve foreign exchange shortages, and improving energy supply by preventing additional circular debt and ensuring the v.”
Porter claimed that “the timely and decisive implementation of these measures coupled with robust financial support from official partners are vital” for Pakistan to achieve macroeconomic stability and successfully advance its sustainable development.
The IMF mission chief announced that “virtual negotiations” between the two parties will continue in the following days to settle the “implementation specifics” of the plans.