Islamabad: International Monetary Fund’s (IMF) Resident Representative for Pakistan Teresa Daban Sanchez on Tuesday acknowledged the overall improved macro-economic performance of Pakistan during the first review conducted under the auspices of the Extended Fund Facility (EFF) – a news source reported.
It was noted that the revenue collection of the country has increased substantially and the balance of payment issues have also improved. The IMF representative was talking to relevant stakeholders in the first quarterly review of the 39-month arrangement made under the EFF for Pakistan, which was organised by the Sustainable Development Policy Institute (SDPI).
Daban further mentioned that the government had made a successful transition towards a market-based exchange rate regime, which would eventually help increase the country’s foreign exchange reserves. She remarked that the government had also successfully controlled total expenditure with the introduction of new and relevant laws.
This has, however, affected the economic activity since the market is yet to adjust to the new policies. She noted that if the authorities stick to the program and implement the reforms required, then they could help mitigate any challenges faced by the country’s economy.
