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IMF seeks sustained inclusive growth

Updated November 03, 2018


Finance Minister Asad Umar and IMF chief Christine Lagarde. — Photo/File
Finance Minister Asad Umar and IMF chief Christine Lagarde. — Photo/File

WASHINGTON: The International Monetary Fund (IMF) has said that its assistance to Pakistan, if approved, would aim to stabilise the country’s economy.

At a Thursday afternoon news briefing in Washington, IMF spokesman Gerry Rice said the Fund would also suggest measures for ensuring a sustained inclusive growth while negotiating the package with Pakistani authorities.

“We expect those discussions to begin on Nov 7,” when an IMF staff mission will visit Islamabad for this purpose, he said. “And, of course, the objectives of that programme will be to help stabilise the Pakistani economy (and) put in place the preconditions for a sustained inclusive growth.”

Finance Minister Asad Umar made a formal request for IMF financial assistance on Oct 11, while attending the Fund’s annual meetings in Indonesia.

Mr Rice confirmed receiving the request and said that the modalities of the programme would be announced once the two sides reach a staff-level agreement. “(And then) we will go to our board (of governors) for the formal approval,” he said.

Published in Dawn, November 3rd, 2018