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IMF stands ready to support Pakistan: Christine Lagarde

Discussion in 'Pakistan Economy' started by Shahzaz ud din, Feb 10, 2019.

  1. Shahzaz ud din

    Shahzaz ud din SENIOR MEMBER

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    IMF stands ready to support Pakistan: Christine Lagarde
    By
    admin
    -
    February 10, 2019
    [​IMG]
    February 10, 2019 (MLN): Christine Lagarde, Managing Director of the International Monetary Fund (IMF), met today with Prime Minister Imran Khan of Pakistan in Dubai, in the context of the World Government Summit hosted by the United Arab Emirates. Following the meeting, Ms. Lagarde made the following statement:

    “I had a good and constructive meeting with Prime Minister Khan, during which we discussed recent economic developments and prospects for Pakistan in the context of ongoing discussions toward an IMF-supported program.

    “I reiterated that the IMF stands ready to support Pakistan. I also highlighted that decisive policies and a strong package of economic reforms would enable Pakistan to restore the resilience of its economy and lay the foundations for stronger and more inclusive growth. As emphasized in the new government’s policy agenda, protecting the poor and strengthening governance are key priorities to improve people’s living standards in a sustainable manner.”



    Copyright Mettis Link News

    Posted on: 2019-02-10T18:10:00+05:00
     
  2. Shahzaz ud din

    Shahzaz ud din SENIOR MEMBER

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    IMF ready to support Pakistan, advocates for stronger economic reforms
    Lagarde terms meeting with Prime Minister Imran Khan 'good and constructive'

    By
    Staff Report
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    February 10, 2019
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    [​IMG]

    DUBAI: International Monetary Fund (IMF), Managing Director Christine Lagarde on Sunday said it was ready to support Pakistan but reiterated decisive policies and a strong package of economic reforms need to be undertaken to restore the resilience of its economy.

    She gave these remarks on the sidelines of her meeting with the Prime Minister Imran Khan at the World Government Summit in Dubai on Sunday.

    The Prime Minister appreciated the IMF’s support to Pakistan and shared his vision for nation-building.

    He reiterated the government’s commitment to undertaking structural & governance reforms and strengthening social protection in the country.
     
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  3. Chakar The Great

    Chakar The Great SENIOR MEMBER

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    Blessing in disguise I suppose.
     
  4. Shahzaz ud din

    Shahzaz ud din SENIOR MEMBER

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    IMF assures Pakistan of support in shoring up economy
    By News Desk
    Published: February 10, 2019
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    [​IMG]
    A view of meeting in Dubai. PHOTO: TWITTER/@Christine Lagarde

    International Monetary Fund (IMF) head Christine Lagarde on Sunday said the organisation was ready to support Pakistan in its efforts to shore up the crippling economy.

    She said this in a statement issued after her meeting with Prime Minister Imran Khan on the sidelines of 7th World Government Summit in Dubai.

    “I had a good and constructive meeting with Pakistan’s prime minister, during which we discussed recent economic developments and prospects for Pakistan in the context of ongoing discussions toward an IMF-supported program,” reads the IMF statement.
    She also highlighted decisive policies and a strong package of economic reforms would enable Pakistan to restore the resilience of its economy and lay the foundations for stronger and more inclusive growth.

    Lagarde also underscored that protecting the poor and strengthening governance are key priorities to improve people’s living standards in a sustainable manner.

    Earlier on Saturday, Information Minister Fawad Chaudhry had told Reuters that PM Imran and Lagarde will be discussing issues holding up bailout negotiations in Sunday’s meeting.

    “This will give us a chance to understand the IMF views and we will be able to give our version to (Lagarde),” said Chaudhry.

    He added that Pakistan wanted any agreed bailout package, which would be the country’s second IMF bailout since 2013, to be the nation’s last such economic rescue by the IMF.

    Officials had expected talks to conclude in November but they have been delayed as Islamabad harbours concerns that the programme could derail the economy and Khan’s plans for his term in office.

    Pakistan has in the meantime sought financial assistance from Middle Eastern allies such as Saudi Arabia and the United Arab Emirates, who have loaned it in excess of $10 billion to ease the pressure on its dwindling foreign currency reserves.
    The IMF talks come amid a worsening macroeconomic outlook, with growth expectations slashed for the current fiscal year to about 4 per cent from 6 per cent previously forecast.

    On Saturday, Pakistan also revised its growth figures for the last financial year to 5.2 per cent from a previously reported 5.8 per cent, after a sharp cut in the figure for large-scale manufacturing, the statistics office said. When the original estimate was reported in April by the government of the then prime minister Shahid Khaqan Abbasi it was hailed as the strongest growth in 13 years.

    Before the revisions to last year’s GDP figures, Pakistan’s deficit-to-GDP ratio, estimated at 5.8 per cent in 2017-18, was expected to hit 6.9 per cent this year, according to the IMF data.

    Pakistan is seeking its 13th bailout since the late 1980s to deal with a current account deficit that threatens to trigger a balance of payments crisis, but talks have been delayed by difficulties in reconciling IMF reform demands with Islamabad’s fears the push is too drastic and could hurt economic growth.
     
  5. Whirling_dervesh

    Whirling_dervesh FULL MEMBER

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    Meaning we couldn't get our way to control you, there for we still want to give you something to stay relevant....
     
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  6. Haris Mansoor

    Haris Mansoor BANNED

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    PM IK Please don't get caught in trap :nono:
     
  7. khansaheeb

    khansaheeb SENIOR MEMBER

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    Like a whore offering services?
     
  8. Hakikat ve Hikmet

    Hakikat ve Hikmet ELITE MEMBER

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    Pak asks the world delivers...
     
  9. Yaseen1

    Yaseen1 SENIOR MEMBER

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    ik will destroy himself if he continued to follow advice of shiekh Rasheed like people such people damaged musharaf and when he suffered hardship left him alone
     
  10. maithil

    maithil FULL MEMBER

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    Deliver on Afghanistan and get IMF comfort. US has Pakistan exactly where it wants. For all great talks about higher and deeper and sweeter friendship with big brother China, IMF and thus US cushion still needed.
     
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  11. Salza

    Salza SENIOR MEMBER

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    LOL we don't need IMF or atleast ain't desperate anymore. But again, a scaled down IMF package of like $6 billions will be not that bad.

    p.s. US has little to say on IMF 'now' since China is willing to provide $ 8 billions package as well which we have kept as plan B. Few months back, every body were saying that we are going to IMF now or tomorrow but its been 6 months negotiations are still going on which clearly indicates that we are not in a rush, all thanks to the financial and oil support by Saudia and UAE. As far as US-Talibans talks are concerned, Khalizad himself has said that Pakistan has NOT asked anything for the talks facilitation nor US is giving anything to us.
     
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  12. Baby Leone

    Baby Leone SENIOR MEMBER

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    seems like she is attracted to IK:partay:

    i dont knwo why IMF money is more important when we are getting more then 6 billions loans from friendly nations.
     
  13. nahtanbob

    nahtanbob BANNED

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    if china delivered the cash you would not be asking qatar and UAE for dough
     
  14. Salza

    Salza SENIOR MEMBER

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    We already have extensive projects from China in the form of CPEC and for now we are more interested to increase our exports to them than hard cash. When we can have quick cash from Arab countries than why bother China for now. China will remain as our plan B for hard cash. For now, PTI govt wants to increase Pakistan exports to China by $2 billion by 2021, as per the reports.
     
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  15. Hakikat ve Hikmet

    Hakikat ve Hikmet ELITE MEMBER

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    Helal olsun...