Resident Representative of International Monetary Fund (IMF) Tokhir N. Mirzoev, Thursday, discussed different options to further enhance cooperation between Pakistan and IMF with Minister of State for Finance Rana Muhmmad Afzal Khan here.
The Minister on the occasion said that despite challenges the economy was gaining momentum and growth in large scale manufacturing, improved exports and good management of imports were helping in overcoming difficulties.
The Minister expressed the confidence that future would bring new and better opportunities for Pakistan. He also added that CPEC would prove to be window of economic prosperity for Pakistan and benefit the whole region.
Last month, IMF said Pakistan’s growth momentum had continued to be favorable. We expect GDP growth at 5.6 percent this year, supported by improved security conditions, energy supply, infrastructure investment and agriculture.
Maintaining this positive trend will require strengthening the economy’s resilience with greater exchange rate flexibility, fiscal discipline, and an adequately tight monetary policy stance
IMF is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
Created in 1945, the IMF is governed by and accountable to the 189 countries that make up its near-global membership. IMF is going to launch World Economic Outlook Update, January 2018 on Monday next in Davos. World Economic Outlook Update is a survey by the IMF staff usually published twice a year. It presents IMF staff economists’ analyses of global economic developments during the near and medium term.
Chapters give an overview as well as more detailed analysis of the world economy; consider issues affecting industrial countries, developing countries, and economies in transition to market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.
Mirzoev congratulated the Minister on assuming his responsibilities as the Minister of State and wished him well in his tenure. Mirzoev informed the Minister that his term would be expiring in March and he would be carrying home good memories of working in Pakistan. The Minister wished Mr. Mirzoev the best in his future assignments.