IMF mulls additional financial support to partner countries

This was stated by, IMF Managing Director, Kristalina Georgieva while speaking at a virtual meeting of the Ministers and Governors of the Middle East, North Africa, Afghanistan and Pakistan (MENAP) region.

The meeting was attended by Federal Minister for Finance and Revenue, Muhammad Hammad Azhar and other Ministers and Governors.

“The IMF Board is deliberating the possibility of extending additional financial support to partner countries during these testing times,” said IMF Managing Director.

The discussion focused on the impact of the pandemic on the economies of the region and the implications of policy reforms undertaken to mitigate the human and economic impact of the pandemic.

Kristalina Georgieva highlighted that the economic recovery this time is usually faster as nations have learnt lessons on how to handle emerging circumstances in their own peculiar way.

As per a press statement issued by the Finance Ministry, IMF managing director asked member countries to pursue a coherent strategy, keeping sufficient fiscal space for expansion of social safety nets and business support initiatives.

Moreover, she also underscored the importance of having green economies in post-COVID-19 outbreak to spearhead economic activities with enhanced energy and protection of biodiversity and ecosystems.