IMF programme aims to reduce Pakistan’s public debt: spokesman

ISLAMABAD: The International Monetary Fund (IMF) has said the programme with Pakistan is aimed at improving the country’s public finances, reducing public debt and helping Pakistan get back on the path to a sustainable and more inclusive growth.

“We hope that the programme can also create fiscal space for a substantial increase in social spending, to strengthen social protection, as well as infrastructure and other human capital development,” IMF Communication Department Director Jerry Rice said according to an online press briefing.

Giving an update about Pakistan’s programme with the IMF, Rice said there had been major developments recently as Pakistan and the IMF had the agreement of a $6-billion three-year extended Fund facility to support Pakistan’s economic reform efforts.“So that happened on May the 12th. Just prior to that, Managing Director, Christine Lagarde, had met with Prime Minister Khan,” he added.