IMF Chief Lagarde Praises Pakistan’s Economic Reforms, Urges More Progress

International Monetary Fund (IMF) Managing Director Christine Lagarde said that Pakistan has an opportunity to forcefully address remaining economic challenges and lay the foundation for more private-sector job creation and higher living standards for all segments of society.

WASHINGTON (Sputnik) — International Monetary Fund (IMF) Managing Director Christine Lagarde praised Pakistan for economic reforms that she said have increased stability in the country, according to a statement issued Tuesday.

“I congratulate Pakistan on having successfully completed its IMF-supported economic reform program,” Lagarde said in the statement after concluding her visit to Pakistan’s capital, Islamabad. “Improved macroeconomic stability as well as strengthened external buffers and public finances will provide a solid foundation for the economy.”

She was referring to the Fund’s three-year, $6.7 billion bailout package to Pakistan. Reforms carried out since the loan was approved in 2013 have enabled an additional 1.5 million poor Pakistani households to receive social benefits, Lagarde said.

While acknowledging Pakistan’s progress to date, the IMF chief urged the country’s leaders to build on efforts to raise citizens’ living standards.

“This is Pakistan’s moment of opportunity to forcefully address remaining economic challenges and lay the foundation for more private-sector job creation and higher living standards for all segments of society,” Lagarde said.