DUBAI, United Arab Emirates – The International Monetary Fund says Pakistan has met nearly all of its quantitative performance markers and that the economy is showing signs of improvement.
The IMF's mission chief to Pakistan, Jeffrey Franks told a news conference in Dubai that the country's reform program remains broadly on track.
Despite progress, the international lender warned that pressures on balance of payments are likely to remain in place for months.
At $8.3 billion, Pakistan's foreign currency reserves are dangerously low. They have been buoyed in part by two IMF installments from a $6.7 billion loan signed in September.
Franks was meeting Pakistani officials in Dubai to conduct a periodic review that is required by the IMF before its executive board approves the third installment of $550 million, which is up for consideration in late March.
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