ISLAMABAD: The International Monetary Fund (IMF) has pledged to continue its support to Pakistan to face the socio-economic challenges posed by COVID-19.

Resident Representative of International Monetary Funds in Pakistan, Maria Teresa Daban said this while speaking at an online policy dialogue organized by the Sustainable Development Policy Institute in Islamabad.

She termed pre-Covid-19 performance of Pakistan’s economy was quite satisfactory.

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Maria Teresa also appreciated the government’s bold measures against coronavirus including cash transfers to most vulnerable families, lowering down policy rate, eliminating import duties on several items.        

Commenting on opening up of construction sector, she said the IMF supported opening of the labour sector.

“The IMF is also working to make Pakistan as competitive and an attractive destination for investment,” she said.

On Apr 16, Minister for Industries Hammad Azhar had said the world had started taking positive steps towards debt relief for developing countries.

He had said it went to the credit of Prime Minister Imran Khan for championing the issue on behalf of all the countries struggling with debt issues.

On Apr 15, The Group of 20 nations had announced a one-year debt relief for the world’s poorest nations as they struggle to financially cope with coronavirus pandemic.

In a communique following their virtual meeting, G-20 Finance Ministers and governors of central banks had said they supported a time-bound suspension of the debt service payments for the poorest countries that request forbearance.

The Group had announced support for a temporary halt to debt payments by the world’s poorest nations amid Coronavirus pandemic.

The G-20 had group also called on private creditors, working under the Institute of International Finance, to participate in the initiative that extends to world’s 76 poorest countries.