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Pakistani authorities have ‘delivered’ on economic front, says top IMF official

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Aqsa Younas Rana
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Pakistani authorities have ‘delivered’ on economic front, says top IMF official

Event in Honor of Friends of Pakistan at Pakistan House

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Bahador Bijani, an Executive Director of the International Monetary Fund (IMF), painted an optimistic picture of the economic landscape of Pakistan during an event at Pakistan House, Washington. The occasion brought together representatives from multiple international financial institutions such as the IMF, International Finance Corporation (IFC), World Bank (WB), and Multilateral Investment Guarantee Agency (MIGA).

On Pakistan's Economic Progress

Bijani expressed overall satisfaction regarding improved economic conditions in Pakistan. "I think the future for Pakistan is very bright. Pakistan is not just any country. It's one of the most important countries in the region and in the world. Pakistanis deserve much more,” Bijani was quoted as saying.

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The statement comes in the wake of Islamabad's anticipation of the IMF board's approval of a staff-level agreement in the first review of a $3 billion bailout, expected to unlock $700 million in funding for the country.

Pakistan's Path to Stability

Pakistan's ambassador to the United States, acknowledged that the past year had been strenuous for Pakistan. Even amidst the turmoil, he expressed faith in the country's potential for success, crediting its progress to its citizens. “Our confidence stems from the people of Pakistan. We have a growing middle class and our human capital is increasing at a very fast pace,” he stated.

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Gratitude to International Financial Institutions

In his address to the gathered guests, the ambassador revealed gratitude towards these International Financial Institutions for their unwavering support in a challenging economic period. He credited their help as instrumental in the economic improvement of Pakistan.

IMF's Views on the Country's Policies

Nathan Porter, the IMF's Mission Chief to Pakistan, highlighted the dedication of the current Pakistani government to overcome its economic challenges, as reflected in its policies and actions. He asserted, “With that base, hopefully, we can build on and be able to move forward to reforms to build a stronger, prosperous and inclusive Pakistan.”

These positive remarks around the country's economic performance signal toward a promising future for Pakistan and are an optimistic boost for the nation's citizens, policymakers and international stakeholders.

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