'Govt moving in right direction': IMF hails economic outcomes

ISLAMABAD: Adviser to the Prime Minister on Finance Dr. Abdul Hafeez Shaikh said the government is focused on the implementation of the International Monetary Fund’s (IMF) program.

He was talking to the IMF Mission team led by Ramirez Rigo Ernesto that called on him in Islamabad on Tuesday, Radio Pakistan reported.

The adviser said the containment of current and fiscal deficits and stabilization of the exchange rate were indicatives of the success of government efforts to put the economy on the long-term growth track.

Ramirez Rigo Ernesto appreciated the positive results being produced by the policies and strategies put in place by the government to remove imbalances in the economy.

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He said the volatility in the exchange rate was reduced while successes were achieved in other areas, especially on the fiscal front, which indicated that the government was moving in the right direction.

Ernesto said the fund’s mission was anticipating to have a meaningful and productive review by aiming at a forward-looking approach with a focus on the adjustments required till March, especially in the power sector and funding from various bilateral and multilateral sources for boosting Pakistan’s foreign exchange.