Islamabad, November 17 (Language) Pakistan’s acting Finance Minister Shamshad Akhtar said that despite the reforms, Pakistan’s economy remains fragile and the country facing cash crisis will have to take more loan from the IMF for some time. This was said in the news on Friday.
According to the news in the newspaper ‘Dawn’, Akhtar also stressed that Pakistan needs to carry out fleet finance reforms to strengthen its economy.
“The next International Monetary Fund (IMF) program is very important because the economy has stabilized but is still very fragile,” Akhtar said. “Until we are able to increase exports and domestic resources, we will need another programme.”
He made the remarks a day after concluding the review of the US$3 billion ‘stand-by’ agreement issued by the Government of Pakistan and the IMF along with the staff-level agreement. This agreement has paved the way for Pakistan to get US$ 700 million in the second installment.
He said that there is no other option except long-term reforms.
“The country will not survive without it,” Akhtar said. We will probably need another EFF (Extended Fund Facility). We will remain with the IMF.