IMF chief, finance minister discuss reforms agenda in Pakistan

WASHINGTON: Finance Minister Muhammad Aurangzeb met International Monetary Fund (IMF) Managing Director Kristalina Georgieva to discuss the economic reforms agenda in Pakistan.

The meeting held in Washington discussed economic issues, policy preferences and reforms agenda to uplift Pakistan’s economy.

Matters related to expanding the tax net, privatisation and facilities to the private sector also came under discussion.

The finance minister is currently in the US to discuss new loan programme with the IMF for Pakistan.

On Tuesday, Muhammad Aurangzeb appreciated the support of the International Monetary Fund (IMF) and World Bank extended to Pakistan for economic development.

Federal Minister for Finance and Revenue, Mr. Muhammad Aurangzeb, attended the G-24, Finance Ministers and Central Bank Governors’ Meeting, said a press release issued here.

The minister talked about reforms in the areas of taxation, energy, privatization and digitalization, and underlined the need to bring in more private sector investment and leverage the “Adaptation Fund” to help the country deal with adverse impacts of the climate change.

The South Asian nation is nearing the end of a nine-month, $3 billion loan program with the International Monetary Fund designed to tackle a balance-of-payments crisis which brought it to the brink of default last summer.

With the final $1.1 billion tranche of that deal likely to be approved later this month, Pakistan has begun negotiations for a new multi-year IMF loan program worth “billions” of dollars, Finance Minister Muhammad Aurangzeb said during an interview in Washington.