Pakistan needs to mobilize tax revenue, cut debt: says IMF

WASHINGTON: The acting director of the International Monetary Fund met with the Pakistani Prime Minister Imran Khan after which he said on Sunday that in order to ensure funds for social and development programs, Pakistan needs to mobilize domestic tax revenue while reducing debt.

Recent economic developments and implementation of Pakistan’s IMF-supported economic reforms were discussed by both the officials, which are aimed at stabilizing the economy, strengthening institutions and paving the way for sustainable and balanced growth, David Lipton said in a statement.

The government of Imran Khan faces mounting pressure as increasing prices and tough austerity policies under the latest bailout of Pakistan from the IMF are squeezing the middle class that helped carry it to power.

Lipton said the IMF and other international partners were working closely with the Pakistani government in order to support the implementation of the reforms.

PM Imran meets World Bank president
The Prime Minister of Pakistan Imran Khan also met with the President of the World Bank David Malpass.

“Just concluded constructive meeting with Pakistan PM Khan where we discussed his important ideas on transformational policies to accelerate equitable growth and job creation for Pakistanis,” Malpass tweeted.

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