IMF chief satisfied with Pak economic reform

IMF Managing Director Kristalina Georgieva has expressed satisfaction with Pakistan's economic reform programme, saying the implementation of the government's reform agenda has helped achieve macroeconomic stability, Arab News reported.

Georgieva said Prime Minister Shehbaz Sharif's government had made progress through a strong reform programme, which had contributed to improvements in fiscal discipline, external reserves and investor confidence.

She said Pakistan's efforts included the introduction of a new national tariff policy, increasing domestic revenues and advancing the privatisation process.

"Strong reforms have helped Pakistan maintain economic stability and restore confidence," Georgieva was quoted as saying.

She added that Pakistan had regained access to international financial markets, while continued implementation of reforms could help accelerate economic growth and improve living standards. The IMF chief said sustained reforms could support faster economic growth in Pakistan.

The remarks came as the IMF began discussions with Pakistan for the fourth review of the country's $7 billion economic programme.

Talks have also started on the third review of Pakistan's $1.4 billion climate resilience programme.

Successful completion of both reviews could pave the way for around $1.2 billion in financing for Pakistan, including about $1 billion under the economic programme and $200 million under the climate facility.

During the reviews, the IMF will assess Pakistan's progress on reforms and commitments made under the programmes.