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IMF Urges Pakistan Action On Inflation

IMF head Dominique Strauss-Kahn
The International Monetary Fund is urging Pakistani authorities to take action to curb inflation and protect the country from the potential economic shocks of higher oil prices.

An IMF team on March 11 completed a 10-day mission to Pakistan to assess conditions in connection with the IMF's $7.6 billion loan package to the country.

In a statement, the IMF said officials had "constructive" talks with the Pakistani government and central bank on restoring economic stability and implementing structural reforms.

Adnan Mazarei, the head of the IMF mission, urged fiscal moves that would result in reduced inflation. He said a lower budget deficit would help Pakistan manage the impact of higher oil prices on the economy.

compiled from agency reports