ISLAMABAD:
A delegation of economic managers, led by Finance Minister Dr Abdul Hafeez Shaikh, left on Monday for Dubai to attend the scheduled meeting with the International Monetary Fund (IMF) from November 16 to 19.
“The Pakistani team has not gone to seek any new loan programme from the IMF, but our team will participate in “Consultative-IV” meeting of the fund to share with them the economic reforms programme initiated for the consolidation and growth of national economy,” a senior official of the finance ministry said.
The official said Pakistan would go ahead with its own reform programme to enhance economic sustainability and was going for talks under Article-IV of IMF’s Articles of Agreement as it was mandatory for its members to participate in this review meeting.
Published in The Express Tribune, November 15th, 2011.
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“The Pakistani team has not gone to seek any new loan programme from the IMF,
Well, that obvious as there will be no new loans made available !!!!! Pakistan really needs to get its act together and start making some tough fiscal and monetary decisions. It then needs to implement them and not fall into the trap of political agendas of parties in power !!!! There is no recovery without bitter medicine, here !!!