Pakistan is completing its current program and the Pakistani economy is moving in a slightly better direction, says IMF chief Christina Georgieva.
Dawn Commerce Reporter
London: The International Monetary Fund says that Pakistan is engaged in negotiations for a standby loan of three billion dollars. This was stated by the head of IM, Christina Georgieva.
The head of the IMF, Christina Georgieva, says that there is a ‘significant issue’ under discussion in the ongoing discussions regarding this follow-up loan for Pakistan. Addressing an event of the Atlantic Council think tank, Georgieva said that Pakistan is completing its current program and the Pakistani economy is moving in a slightly better direction, increasing Pakistan’s foreign exchange reserves.
Pakistan has been facing an economic crisis for a long time and in this context, Georgieva said, “The determination is to continue on this path and that is why the country is again possibly a follow-up to the IMF.” “There is one important issue that Pakistan has to address, namely taxation,” he added. How to get the rich people of society to participate in the economy, as well as the spending mechanism and greater transparency in the public sector are under discussion.
Pakistan is in talks for a $3 billion standby loan in an effort to secure more credit from the IMF.
