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Looking ahead, the IMF statement said, a resumption of higher growth is needed to raise living standards and will require improvements in the business climate to stimulate higher investment by local and foreign investors.

The financial institution also noted that the “resolve of the Pakistani authorities to implement their stabilization and reform program is a key factor in deepening macroeconomic stabilization, despite the risks associated with internal security and uncertainty as to the pace of global economic recovery.”

Emphasizing the need for stepped up donors support for the key anti-terror partner of the international communityy, the Fund said early disbursement of donor financing remains crucial to support Pakistan’s stabilization and reform efforts and laying the basis for a high and sustainable growth.

The IMF mission staff will prepare a report on the fourth review under Pakistan’s SBA that is scheduled for consideration by the IMF Executive Board in late March.

Pakistan and the IMF: A Relation of Trust

An Article

By Henri Ghesquiere, Senior Resident Representative in Pakistan

Reproduced with permission of Business Recorder

September 23, 2003

One month from now, the 24 Executive Directors of the International Monetary Fund, who represent 184 countries, will likely meet to review Pakistan's recent economic progress. Chances are they will approve a disbursement of about $240 million--one more milestone in Pakistan's economic revival which began four years ago. The approval will be a further nod of encouragement for the Government to persist with its strategy of sustained high economic growth and poverty reduction.

Yet, in Pakistan mistrust of the IMF's intentions abounds. Its three initials evoke economic pain. Many consider the Fund uncaring. They look with incredulity when I assert that the Fund has only one goal in Pakistan: to help the country achieve its full economic potential.

When Pakistan's Government asked financial support from the Fund nearly four years ago, the country stood at the brink of default on its foreign debt. Hardly any international donor or creditor, private or public, was prepared to provide financing unless the IMF led the way by putting its money in Pakistan. When that money came imports kept flowing into the 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。