IMF Chief Georgieva Discusses Pakistan's Economic Progress

IMF chief Kristalina Georgieva revealed that Pakistan is considering a follow-up programme to its current $3 billion Stand-By Arrangement. Despite making progress in completing the existing programme, Pakistan still faces significant challenges that need to be addressed.

Georgieva highlighted key issues such as expanding the tax base, ensuring contributions from the wealthier segments of society, improving the direction of public spending, and enhancing transparency within the economy.

Recently, Pakistan and the IMF reached a staff-level agreement on the final review of the current arrangement, which could unlock approximately $1.1 billion in financial assistance for the nation. The IMF board is expected to review this agreement in late April, with discussions ongoing about a potential longer-term bailout and the continuation of essential policy reforms.

Georgieva emphasized the importance of Pakistan's commitment to economic reform and expressed optimism about the country's improving economic performance, particularly in terms of building up reserves.

Pakistan's engagement with the IMF for a follow-up programme underscores the ongoing efforts to address economic challenges and implement necessary reforms. The potential financial assistance from the IMF could further support Pakistan in stabilizing its economy, managing debt, and fostering sustainable growth.