IMF seeks sustained inclusive growth for Pakistan

The International Monetary Fund (IMF) has said that its assistance to Pakistan, if approved, would aim to stabilise the country’s economy.

At a Thursday afternoon news briefing in Washington, IMF spokesman Gerry Rice said the Fund would also suggest measures for ensuring a sustained inclusive growth while negotiating the package with Pakistani authorities.

“We expect those discussions to begin on November 7,” when an IMF staff mission will visit Islamabad for this purpose, he said.

“And, of course, the objectives of that programme will be to help stabilise the Pakistani economy (and) put in place the preconditions for a sustained inclusive growth.”

Finance Minister Asad Umar made a formal request for IMF financial assistance on October 11, while attending the Fund’s annual meetings in Indonesia.

Rice confirmed receiving the request and said that the modalities of the programme would be announced once the two sides reach a staff-level agreement. “(And then) we will go to our board (of governors) for the formal approval,” he said.