IMF praises Pakistan for completing 3-year program

AP News
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Posted: Oct 25, 2016 8:26 AM

ISLAMABAD (AP) — The head of the International Monetary Fund has praised Pakistan for "successfully completing" a three-year program under which Islamabad received $6.7 billion after signing a bailout package with the fund amid fears of default.

Pakistan received the last tranche of $102 million under this package last month.

In a statement after concluding her visit to Islamabad, Christine Lagarde, IMF's managing director, said on Tuesday that Pakistan's economy is improving.

But she urged Pakistan to continue efforts on "more private sector job creation and higher living standards."

Her comment came a day after she met with Pakistani Prime Minister Nawaz Sharif and other government officials. Lagarde congratulated Sharif on "steering the country out of multiple challenges and achieving macroeconomic stability" after coming into power in 2013.