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IMF mission chief’s visit to Pakistan comes to an end

March 27, 2019

International Monetary Fund mission chief Ernesto Ramirez Rigo’s two-day visit to Pakistan completed Wednesday.

He had introductory meetings with Pakistani officials, IMF said.

The international body said discussions took place on a new IMF programme for Pakistan and new ways for economic development.

Rigo met Finance Minister Asad Umar, Adviser to the Prime Minister on Commerce Abdul Razak Dawood, the ministers for energy and revenue, FBR chairperson, State Bank of Pakistan governor and other officials.

Related: Talks with the IMF over possible bailout package have entered the final stages, says Asad Umar

Pakistan and the IMF are no strangers. Since 1958, they have made 21 agreements for loans.

The IMF is an international organisation of 189 countries working on monetary cooperation and international monetary stability. It helps member countries in three ways:

  • Economic surveillance — monitoring the economic and financial policies of its 189 member countries.
  • Lending — providing loans to member countries facing some degree of economic crises.
  • Capacity building —  modernizing member country economic policies and institutions, and training their people

Pakistan has gone to the IMF repeatedly since the late 1980s. The last time was in 2013, when Islamabad got a $6.6 billion loan to tackle an economic crisis.

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One Comment

  1. Avatar
    Scot bravo   March 28, 2019 11:47 pm/ Reply

    Stay away from imf
    Build own economy
    Avoid LOANS

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