Our Methods Are Working in Pakistan: IMF Chief

International Monetary Fund (IMF) Managing Director Kristalina Georgieva has stated that its methods for implementing economic reforms has worked well in countries like Pakistan.

Key points

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• She remarked IMF and World Bank were additionally working to encourage greater private-sector investment and improve liability management operations.
• Georgieva identified three broad areas for dealing with debt challenges in developing countries.
• The third area involves maintaining sound economic fundamentals, including stronger debt transparency, debt-management capacity and relations between governments and investors.

Speaking after the G20 Finance Ministers and Central Bank Governors Session in Asheville, North Carolina, Georgieva stated stronger reform implementation, domestic revenue mobilization and efforts to attract private investment at lower costs were key to tackling debt challenges in developing economies. Bank Makramah Completes Rs. 12 Billion Sale Of Cullinan Tower.

"Together with the World Bank, we have strengthened support for countries on reform implementation and domestic resource mobilization, " Georgieva remarked, adding that the approach had worked well in countries including Ecuador and Pakistan.

In practice, the first involves countries with unsustainable debt. The second focuses on countries with sustainable debt that are implementing reforms aimed at boosting economic expansion. Pakistan was specifically mentioned under this part of the approach.

Notably, the third area involves maintaining sound economic fundamentals, including stronger debt transparency, debt-management capacity and relations between governments and investors. Stay Connected with ProPakistani.

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Taken together, the developments around our Methods Are Working in Pakistan: IMF Chief point to a situation that is still moving, and the coming days should bring more clarity.