It will be last IMF program if our exports keep rising: Asad Umar

ISLAMABAD: Minister for Planning, Development, and Reforms Asad Umar has said that this would be the last International Monetary Fund (IMF) program if our exports kept on growing.
The IMF has recently approved the second loan of $452.5 million of the $6 billion packages to meet all targets set for the first review of the program by bringing the country’s economic wheel to a grinding halt.
In a tweet, Asad Umar wrote, “Making this the last IMF program is only possible if we can get our exports growing. “

He added, “With all the measures taken since the Pakistan Tehreek-e-Insaf (PTI) government formation great to see that exports are now getting stronger and stronger. 11 percent growth in dollar value in November vs November last year.”
The IMF has once again supported the tight monetary policy stance besides emphasising upon the need to timely and regularly increase the electricity tariffs, the two issues that have invited a lot of criticism in Pakistan from independent policy experts and economists.

Read more: Pakistani authorities to meet IMF officials today

The Executive Board of the IMF met in Washington and approved the first review of the programme for the July-September period of the fiscal year 2019-20. In November, Pakistan and the IMF had reached a staff-level agreement on completion of the first review of the $6 billion programme.

Also read: IMF approves another 3-year loan package for Pakistan

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