Pakistan
IMF continuing talks with Pakistan with more focus on fiscal spending, structural reforms: spokesman
The International Monetary Fund (IMF) is holding open and constructive discussions with Pakistan in connection with a sixth review of the country's 39-month, $6 billion financing programme that began in 2019, IMF spokesman Gerry Rice said on Thursday.
Rice, however, declined to say if disbursements under that programme had been stopped but said further discussions were needed about Pakistan's fiscal spending plans, structural reforms, particularly in the tax and energy sectors, and social spending.
He told a regular briefing that IMF staff were unable to complete the talks during a recent mission, but the global lender remained “fully engaged” and aimed to resume the discussions in the period ahead.
“We stand ready to continue to support Pakistan,” he said. “As the recovery gains strength, it will be important to accelerate the implementation of policies and reforms needed to address some of the long-standing challenges facing the Pakistani economy.”
Pakistan this month set a target of 4.8 per cent growth in gross domestic product for the 2021-22 financial year and a fiscal deficit target of 6.3pc.
The country crossed growth projections in the FY21 financial year despite a third wave of Covid infections, reaching GDP growth of 3.96pc, after a 0.47pc contraction in FY20.
-
Technology 8 hours ago
Eken fixes ‘terrible’ video doorbell issue that could let someone spy on you
-
Sports 1 day ago
Fifth T20I: New Zealand elect to bowl first against Pakistan
-
Sports 1 day ago
Sania Mirza offers glimpse of week through Instagram post
-
Pakistan 20 hours ago
PM calls for addressing global inequalities in vaccine distribution
-
Sports 1 day ago
Interior Minister assures security of Chinse nationals in Pakistan
-
Pakistan 1 day ago
PTI to talk only with COAS, ISI chief
-
Regional 1 day ago
How JoJo Siwa’s “rebrand” got so messy
-
Pakistan 19 hours ago
FM Dar appointed as Deputy Prime Minister