Pakistani Finance Minister confident of laon payback to IMF

WASHINGTON, April 19 : Finance Minister Dr Abdul Hafeez Shaikh discussed Pakistan’s economic performance and challenges facing the national economy with Deputy Managing Director of IMF Nemat Shafik here Thursday.

 

The IMF leader was “appreciative of the strong Pakistani performance on tax mobilization. as well as some of the good numbers in growth, and exports and remittances,” Dr Shaikh said after the meeting.

 

 

The two leaders also discussed some of the economic challenges Pakistan faces including the global contraction, which impact on Pakistan’s exports momentum, flow of investment into Pakistan, and oil oil prices, which put greater burden on the economy in terms of imports.

The finance minister and the IMF leader also discussed the emerging global economic recovery, which remains uneven in different parts of the world.

Dr Shaikh told APP that Pakistan has budgeted it debt repayments  and is returning an amount of 1.4 billion dollars to the Fund this year.

Pakistan has not borrowed any money from the IMF since May 2010.

“The debt payments have been budgeted and being regularly paid and the IMF is appreciative of that,” Shaikh said.

The finance minister was confident that Pakistan would be able  to meet it’s international debt payment obligations in the months and years ahead.

“Pakistan has historically had a very impressive record of meeting it’s debt obligations and these will be budgeted appropriately,” the finance minister said.

Finance Secretary Abdul Wajid Rana also accompanied the finance minister during the meeting

Source : MGCT

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Categories: Economy

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