In an interview with Voice of America, Nathan Porter, the IMF’s Mission Chief for Pakistan, stated that the present loan program may be the final one if Pakistan executes changes, as the IMF’s new program is considerably stricter.
The IMF official stated in an interview that there was nearly “no economic growth” during the previous program’s period of high inflation and current account deficit.
The head of the IMF mission stated, “We were able to stabilize the situation with subsidies; concessions make businesses ineffective.”
According to the head of the IMF mission, “this reduces growth prospects.”
The significance of sustained economic growth without the need for disproportionate incentives or concessions has been underlined by Nathan Porter.
