IMF lauds Pakistan’s strong economic performance, targets on deficit, BISP spending met

1079
IMF says Pakistan in position to set economy on higher growth path, forecast 5% growth in 2016-17

WASHINGTON, May 12 (APP): The International Monetary Fund on Thursday  lauded Pakistan’s strong economic performance and said the government’s reform efforts continue to strengthen macroeconomic stability and has expanded protection of poor people under the Benazir Income Support Program.

In a statement issued after the IMF successfully completed the  staff-level agreement with Pakistani officials during May 2-11 meetings in Duabi, Harald Finger, IMF’s country director for Pakistan said the government has met all end-March 2016 quantitative performance criteria, including the budget deficit target and the floor on the SBP’s net international reserves.

The agreement will be presented before the IMF Management and the
Executive Board for approval after which the next tranche of $510 million of a three-year loan will be made available to Pakistan.