International Monetary Fund (IMF) Managing Director (MD) Kristalina Georgieva said she held a very productive meeting with Pakistan’s Prime Minister Shehbaz Sharif and his team during a special meeting 2024 of the World Economic Forum.
“We discussed policy reforms and strong decisions to address Pakistan's challenges and create stronger sustained and more inclusive growth for the benefit of all Pakistanis,” she said.
Earlier, IMF Managing Director Kristalina Georgieva said that Pakistan and Egypt were still facing economic hardships. She was addressing a speech during the World Economic Forum (WEF) session in Riyadh.
Read more: FinMin Aurangzeb eyes ‘stability, not growth’ of Pakistan's economy from IMF programs
It is pertinent to note that Federal Finance Minister Muhammad Aurangzeb has expressed confidence in the government's efforts to improve the economy, citing increased tax collection through these measures and a reduction in the current account deficit as signs of progress.
Speaking at the Business Summit 2024 in Islamabad, the minister stressed that apart from the IMF, no plan B could be imagined, with the new staff-level agreement expected in June or July.
He also highlighted the positive impact of government initiatives on tax collection and the economy. He emphasized that despite challenges, the economy is on an upward trajectory, with measures such as the IMF's nine-month program providing crucial support to the economy.
"Last year, the State Bank's reserves were $3.4 billion, which have now swelled to $8 billion," he stated.
Also Read: Aurangzeb acknowledges pace of CPEC projects has been slow in recent years
Minister Aurangzeb also voiced optimism regarding the success of the government's campaign to register traders, stating that there is nothing to worry about regarding the registration scheme.
Furthermore, Minister Aurangzeb addressed concerns about tax cases worth billions pending in tribunals. He said the law minister has been asked to look into these matters.
