IMF Executive Director Bahadur Bijani acknowledges the improvement in Pakistan’s economic situation
- IMF official says Pakistan is ‘important’ country in the world.
- “Our country is destined to succeed,” says Masood Khan.
- Nathan Porter welcomes the actions and policies of the Pakistani government.
WASHINGTON: International Monetary Fund (IMF) Managing Director Bahadur Bijani noted an overall improvement in the economic situation, saying “Pakistan’s authorities have succeeded”.
He made these remarks at an event organized by Pakistan’s ambassador to the US in honor of Pakistan’s friends from international financial institutions such as the IMF, the International Finance Corporation (IFC), the World Bank (WB) and the Multilateral Investment Guarantee Agency ( MIGA), at Pakistan House in Washington.
“I think the future for Pakistan is very bright. Pakistan is not just any country. It is one of the most important countries in the region and in the world. Pakistanis deserve much more,” the IMF executive director was quoted as saying in an official statement.
The meeting comes as Islamabad awaits the IMF board meeting to approve a staff-level agreement on the first review of a $3 billion bailout program, which will unlock $700 million in funding for the country.
Addressing the event, Ambassador Masood Khan observed that the past year has been a difficult one for Pakistan. “We have gone through a tough transition and are moving towards a new phase of stability,” he added.
“Have faith in Pakistan. Our country is destined to succeed,” he said.
“Our trust comes from the people of Pakistan. We have a growing middle class and our manpower is growing at a very fast pace,” he added.
Addressing a gathering of more than 40 IFI invitees, the ambassador said we are grateful to the IFI for their steadfast support in navigating through a difficult economic period.
Nathan Porter, Head of the IMF Mission in Pakistan, speaking on the occasion expressed his satisfaction with the recently concluded agreement at the staff level. He said the actions and policies of the current government reflect its commitment to lead the country towards stabilization.
“With this foundation, we hope, we can build on and be able to move forward with reforms to build a stronger, prosperous and inclusive Pakistan,” he said.
He also appreciated the cooperation and policies followed by the State Bank of Pakistan to ensure fiscal stability in the country.
Athanasios Arvanitis, Deputy Director of the IMF’s Middle East and Central Asia Department, also spoke on the occasion and expressed the hope that the elections in Pakistan will lead to a new beginning in undertaking a reform process that the country needs to make progress and address some of the structural issues.
Thanking them for their strong support, Ambassador Khan observed that the digitization of Pakistan’s economy was creating new opportunities in the country for the youth and professionals who are taking the lead in guiding the country towards a bright future.
Praising the professional achievements of Pakistanis working in IFIs, the ambassador observed that Pakistani professionals have proved their mettle and made the entire nation proud of their achievements.
“We are a nation of talented people. If you can make it, Pakistan can make it,” the ambassador observed.
Syed Ali Abbas, Advisor Mission Chief UK, European Department IMF, in his remarks expressed the hope that with the successful completion of the electoral process in Pakistan, the country will move towards a long-term and more resilient approach that would change the trajectory of Pakistan.
Aftab Qureshi from the World Bank and Sidra Rehman from the IMF also spoke on the occasion and assured of their continued cooperation.
The ambassador thanked the ITF members and said that the country looks forward to working with its development partners.
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