News Brief No. 97/4

News Brief: IMF Management Welcomes Pakistan’s Reform Measures

March 29, 1997

Following Pakistan’s unveiling on March 28, 1997 of an economic reform package, Paul Chabrier, Director of the IMF’s Middle Eastern Department, made the following statement:

"IMF Management welcomes the bold and comprehensive reform measures just announced by the Pakistan Government. The measures include important steps to make the structure of the economy more efficient and to improve the public finances. The timely implementation of these wide-ranging policies should significantly strengthen the basis for high and sustainable economic growth in Pakistan in the context of financial stability. Our ongoing policy dialogue with the Pakistan authorities will concentrate on the progress on all these fronts and on the preparation of the next step of our cooperation. Thus, successful implementation of the Government’s reform measures and accompanying macroeconomic improvements will provide the basis for the adoption of multi-year arrangements under the concessional Enhanced Structural Adjustment Facility (ESAF) and the Extended Fund Facility (EFF)."