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Pakistan out of economic crisis: IMF chief Christine Lagarde

Lagarde said the completion of IMF programme reflected 'very positively' on Pakistan and the country is 'certainly out of economic crisis'. Photograph: (AFP)

WION Islamabad, Punjab, Pakistan Oct 24, 2016, 12.58 PM (IST)

The International Monetary Fund (IMF) managing director Christine Lagarde on Monday congratulated Pakistan for emerging from an economic crisis, international news agency AFP reported.

 

Lagarde, on her first visit to Pakistan, praised Pakistani Prime Minister Nawaz Sharif "on successfully completing the IMF programme which has helped Pakistan restore its macroeconomic stability", according to a statement from Sharif's office, the international news agency said. 

 

"It is a fantastic step in your journey that you have achieved a better and solid economic position in a brief period of two years," Lagarde said, according to the statement.

 

Completion of the IMF programme reflects very positively on Pakistan, Lagarde said.

 

The statement further added: "She also appreciated the country’s strengthened social safety nets and tax policy and administration reforms.”

 

In an article written by Lagarde for Pakistan daily, The News, she talks about four central priorities, including greater economic resilience, higher growth, quality of growth and belief in the global system, Pakistan will have to lean on to strengthen its own policies.

 

She also wrote she is confident that Pakistan can seize this moment of opportunity and transform itself into a dynamic, vibrant, and integrated emerging market country.

 

(WION with inputs from AFP)

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