ISLAMABAD: International Monetary Fund (IMF) Representative Esther Perez Ruiz has praised Pakistan’s efforts to improve living standards and achieve macroeconomic stability in the country.
While speaking at the Sustainable Development Policy Institute in Islamabad, Ruiz commended the steps taken by the government in 2023 to stabilize the economy, noting that the situation is improving gradually.
However, Ruiz also noted that Pakistan is still facing the challenge of balancing micro and macroeconomic stability.
She underscored the significance of recent economic stabilization efforts. She went on to say the 2023 Stand-By Arrangement, has played a significant role in bringing economic stability, contributing to a resumption of economic growth and a reduction in inflation.
According to Ruiz improvements in foreign exchange reserves and the reduction in policy rates during 2023 have also had a positive impact on Pakistan’s economy.
She emphasized the importance of maintaining strong policies to ensure the success of the lending program.
The IMF representative’s comments highlight the progress made by Pakistan for a robust economy.
