WASHINGTON: The International Monetary Fund (IMF) says it has released US$1.2bil to Pakistan, recognising its efforts in macroeconomic reform.
That brings to US$3.3bil the amount disbursed by the Washington-based fund to Islamabad under two programmes aimed at providing financial support for economic reforms and mitigating the impacts of climate change.
IMF deputy managing director Nigel Clarke said in a statement that “the implementation of reforms in Pakistan has helped to preserve macroeconomic stability despite recent shocks” to the country.
The IMF executive referred to floods during the past summer monsoon season that had killed more than 1,000 people by September.
“The authorities’ commitment to meeting their primary balance target while providing the necessary emergency assistance in response to these severe floods is an important signal of their willingness to strengthen their credibility in fiscal policy,” Clarke said.
But he urged the government to accelerate reforms to improve economic data collection, privatisations and promoting investment. — AFP
