Tuesday June 14, 2022

IMF Demands Do More From Pakistan

ISLAMABAD: The International Monetary Fund has asked Pakistan to take “additional measures” to strengthen the budget and bring it in line with key objectives of the fund programme. It was the response of IMF’s Resident Chief in Pakistan Esther Perez Ruiz when asked for her comments on the budget for 2022-23.

The IMF official said: “We note the submission of the draft budget to the National Assembly last Friday. Discussions with the authorities continue to obtain more clarity on certain revenue and spending items and allow for a full assessment,” and added “however, our preliminary estimate is that additional measures will be needed to strengthen the budget and bring it in line with key programme objectives.”

The Fund staff stands ready to continue to support the authorities’ efforts in this respect and, more generally, in the implementation of policies to promote macroeconomic stability. The IMF official did not explain the required “additional measures” to revive the stalled $6 billion programme under the Extended Fund Facility (EFF).

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