Islamabad, November 3, 2023 – In a significant development, the International Monetary Fund (IMF) has commended Pakistan for its successful progress in achieving targets during the first quarter of the fiscal year 2023-24.
This achievement was acknowledged during a high-level meeting between the IMF Mission Chief and Dr. Shamshad Akhtar, the Caretaker Federal Minister for Finance, Revenue & Economic Affairs. The IMF Mission Chief emphasized the importance of sustaining these efforts to ensure the economic stability of the country.
Dr. Shamshad Akhtar, in a statement issued by the finance ministry, warmly welcomed the IMF delegation and shared updates on the Standby Arrangement (SBA). The Minister provided valuable insights into the fiscal measures being undertaken by the government to enhance the economic situation.
The discussions in the meeting also revolved around comprehensive reforms and measures implemented by the Federal Board of Revenue (FBR), as well as the government’s strategies to address the persistent issue of circular debt. Dr. Shamshad Akhtar expressed her heartfelt appreciation for the unwavering support and assistance provided by the IMF and reaffirmed the government’s unswerving commitment to collaborating closely with the IMF to ensure the successful completion of the SBA and the realization of economic objectives.
Notable attendees at the meeting included IMF Resident Representative Ms. Esther Perez Ruiz, Governor of the State Bank of Pakistan Jamil Ahmed, Chairman of the Federal Board of Revenue, Chairman of the Securities and Exchange Commission of Pakistan, Secretary of Finance, members of the IMF delegation, and senior officers from the Finance Division.
This development showcases Pakistan’s dedication to economic reform and the substantial progress it has made in achieving the fiscal targets outlined in the IMF program. The IMF’s appreciation signals a positive outlook for Pakistan’s economic stability and ongoing collaboration with the international financial institution.
