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IMF review mission commends Pakistan for economic progress: Finance ministry

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The International Monetary Fund's (IMF) review mission met with Pakistani authorities in Islamabad on Thursday (Nov 2) and commended the government on its progress toward economic recovery, the country's finance ministry said in a statement.

The South Asian nation is operating under a caretaker government after an IMF loan programme, approved in July, helped avert a sovereign debt default.

"Nathan Porter, IMF Mission Chief, appreciated the government's commitment to meeting the first-quarter targets, and commended the government's efforts and measures taken in some critical areas," the ministry said.

On Monday, Pakistan's central bank held its key rate at 22 per cent. In its statement it said that a"successful and timely completion of the upcoming IMF-SBA review would help unlock other multilateral and bilateral financing".

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