Pakistan delegation
comprising Finance Secretary, Mr. Shahid Mahmood, Governor, State Bank of
Pakistan, Mr. Tariq Bajwa and Secretary, Economic Affairs Division, Mr. Arif
Ahmed Khan participating in the 98th Ministerial meeting of G-24 in
Washington DC, held various bilateral discussions on the sidelines of the
IMF/World Bank Annual meetings on 12 Oct 2017.
The delegation met Mr. Mitsuhiro Furusawa, Deputy Managing Director,
IMF, Mr. Michael Kaplan, Deputy Assistant Secretary, US Department of Treasury,
Mr. Gilbert Houngbo, President International Fund for Agriculture Development
(IFAD)and also attended a number of other events, says a press release received
from Washington DC here today.
The members of the
delegation discussed the current economic situation in Pakistan with their
counterparts. They drew their attention to positive economic developments
taking place in the country, particularly highest growth rate achieved by
Pakistan during the last ten years along with contained inflation, and to the
challenges on the external front. They
expressed the hope that the ongoing CPEC projects, improved security situation
and growth in private sector credit off take, especially fixed investments,
will lead to a sustained and inclusive higher growth trajectory for Pakistan in
the coming years.
Referring to the main
challenge facing the economy, they mentioned that the current account deficit
was partly driven by higher machinery imports which in
coming years should add to the growth momentum of the economy through increased
economic activity. However, the external account situation is being closely monitored
and steps are being taken to address it.
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