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Staff-level accord with IMF to spur economic growth: Hafeez Shaikh - Inside Financial Markets

Staff-level accord with IMF to spur economic growth: Hafeez Shaikh

Associated Press of Pakistan

:Federal Minister for Finance and Revenue, Dr Abdul Hafeez Shaikh Wednesday said the staff-level agreement between International Monetary Fund (IMF) and Pakistan would help improve exports and investments and lead the country towards economic growth.

Talking to media persons outside the Election Commission of Pakistan, he said owing to this agreement, investors from across the world and capital markets would be attracted towards Pakistan.

It is pertinent to mention here that the IMF and Pakistan reached the staff-level agreement on second to fifth reviews of the country’s reform program under ‘extended fund facility.
This agreement is subject to the approval of the IMF’s executive board and after the completion of reviews around US$500 million would be released.

Hafeez Shaikh while talking about the Senate elections, said it was democratic right of every individual and party to hold their opinion and take part in elections.

“Ultimately the electorate; and in our case, the members of National Assembly will decide who will be the member of Senate,” he said and expressed the hope that Pakistan Tehreek-e-Insaf would win.

He said Prime Minister Imran Khan had only one interest that was to make Pakistan prosperous and increase its respect on the globe and added it was the main factor that distinguished the PTI and its leadership from other parties.

Syed Zaki Hussain

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)