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- Jun 12, 2017
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We have made tough calls, it is time to trust the market, says Baqir
By
Monitoring Report
-
June 22, 2019
0
14
State Bank of Pakistan (SBP) Governor Reza Baqir has defended the decisions of the federal government, saying that they were all for the good of the country and will help stimulate the economy to grow.
“We have taken the difficult decisions, and there is no cause for further uncertainty in the financial market. We have taken the necessary measures” he said in an interview to the media.
Defending the widening of the tax base, facilitating exporters, and a good relationship with the international community, the SBP Governor said that Pakistan’s economy is in a relatively stable position compared to last year as the government and central bank have introduced measures aimed at fixing the fiscal and current account deficits.
“I am confident that we have achieved relative stability compared to where we were just six months ago, and that adjustments by the SBP and government are in line wth the IMF’s recommendations.”
He also pointed out the gradual move away from a fixed exchange rate regime towards a market based one, and that the SBP will continue to monitor the currency market and intervene in case of unjustified rate movements.
“With the IMF agreement in place, fund from other bilateral sources are also expected to follow which will decrease the government’s reliance on SBP to fund the fiscal gap” he said.
By
Monitoring Report
-
June 22, 2019
0
14
State Bank of Pakistan (SBP) Governor Reza Baqir has defended the decisions of the federal government, saying that they were all for the good of the country and will help stimulate the economy to grow.
“We have taken the difficult decisions, and there is no cause for further uncertainty in the financial market. We have taken the necessary measures” he said in an interview to the media.
Defending the widening of the tax base, facilitating exporters, and a good relationship with the international community, the SBP Governor said that Pakistan’s economy is in a relatively stable position compared to last year as the government and central bank have introduced measures aimed at fixing the fiscal and current account deficits.
“I am confident that we have achieved relative stability compared to where we were just six months ago, and that adjustments by the SBP and government are in line wth the IMF’s recommendations.”
He also pointed out the gradual move away from a fixed exchange rate regime towards a market based one, and that the SBP will continue to monitor the currency market and intervene in case of unjustified rate movements.
“With the IMF agreement in place, fund from other bilateral sources are also expected to follow which will decrease the government’s reliance on SBP to fund the fiscal gap” he said.
