Monday, July 22, 2024

Pakistan Will Not Default, IMF Chief

The International Monetary Fund (IMF) chief, Kristalina Georgieva, has expressed confidence that Pakistan will not default on its loans. She made the statement during a press conference in Washington, DC, on Wednesday.

Georgieva praised the Pakistani government for its efforts to strengthen the country’s economy and implement reforms to address the challenges facing the country. She noted that the government’s policies had led to a significant improvement in Pakistan’s economic indicators, including a reduction in the fiscal and current account deficits.

The IMF chief also highlighted the progress made by Pakistan in implementing the structural reforms agreed upon under the IMF’s Extended Fund Facility program. She noted that the reforms had helped to boost investor confidence and attract foreign investment to the country.

Georgieva’s comments come amid concerns about Pakistan’s ability to repay its debts, including loans from the IMF. Pakistan’s debt burden has increased in recent years, and the country has struggled to generate sufficient revenues to service its debt.

However, Georgieva expressed confidence that Pakistan would be able to overcome its debt challenges and continue on its path to economic stability. She noted that the IMF remained committed to supporting Pakistan’s economic reforms and helping the country achieve its development objectives.

The Pakistani government has welcomed Georgieva’s comments, describing them as a vote of confidence in the country’s economic policies. Finance Minister Shaukat Tarin thanked the IMF for its support and pledged to continue implementing reforms to ensure sustainable economic growth in Pakistan.

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