How does the IMF support the Government of Pakistan in combating corruption and thereby help the businessman?
Statement by Henri Ghesquiere, Senior IMF Resident Representative At the Conference on “Combating corruption in the Public and Private Sectors” Islamabad, August 20, 2003 Mr. Chairman, Excellencies, Ladies and gentlemen: Three and a half years ago, the Government of Pakistan designed a comprehensive economic strategy to avert a debt crisis and raise the standard of living of the people durably. The IMF was invited to support this strategy, including through a three-year $1.4 billion loan at concessional terms aimed at sustained economic growth and poverty reduction. Half of this loan amount has been disbursed already, including a substantial portion under the present Government, confirming continuity of the reform effort. The ultimate success of the strategy, however, depends on substantial employment creation through increased private sector investment. How can the Government induce the private sector to invest? And how does the IMF contribute to such an enabling environment? In our d
