IMF appreciates progress towards economic stabilisation
ISLAMABAD: Director Middle East and Central Asia Department of the International Monetary Fund (IMF) Jihad Azour has appreciated the progress made by Pakistan towards economic stabilization as well as the government’s commitment to the reform process.
The IMF director said this in a meeting with Advisor to Prime Minister on Finance Dr Hafeez Shaikh and his delegation in Washington. They discussed the implementation of the ongoing IMF program.
Abdul Hafeez Shaikh also attended informal meeting of the South Asian Association of Regional Cooperation (SAARC) finance ministers that focused on trade facilitation within the SAARC region.
Vice President of International Finance Corporation Nena Stoiljkovic during a meeting with Abdul Hafeez Shaikh expressed interest in providing advisory services for structuring public private partnership transactions.
Prime Minister Imran Khan on Saturday said it was a great achievement of his economic team to turn around the national economy within a year.
In a tweet with facts and figures, Imran Khan said the Foreign Direct Investment witnessed an increase of 111.5 per cent while Foreign Private Investment surged by 194 per cent during this period.
He said Current Account Deficit had gone down by 80 percent during the corresponding period while the remittances increased by 17 per cent.
Similarly, exports registered an increase of 5.9 per cent over the last year while imports decreased by 18.6 per cent.
Abdul Hafeez Shaikh has said that Pakistani economy was now moving forward on the path of progress and stability.
He was speaking at a luncheon hosted by Pakistan Business Council in the honour of visiting Pakistani economic team in Washington.
Dr Hafeez Shaikh informed the participants about current economic situation of the country and asked them to make investment in different sectors of Pakistan in view of investment-friendly and conducive environment in the country.