IMF asks govt to carry out long-delayed structural reforms.

WASHINGTON -- The International Monetary Fund (IMF) has asked Pakistan to address its longstanding issues through structural reforms and strengthening of institutions through legal framework to help economy be competitive. The government was also advised to strengthen cooperation at the federal and provincial levels for greater fiscal and economic calibration, said IMF's Middle East and Central Asia Region Director Jihad Azour responding to a reporter question at a news conference. An important track for the country was 'the structural reforms that will allow Pakistan economy to be more competitive by addressing some of the longstanding issues related to the weaknesses',

he said. Mr Azour did not directly respond to a question on the timing of the bond launch. He was asked if in his view the current zero-interest rate environment in the capital markets provided an opportunity to Pakistan to go for $3 billion to $4bn bonds, both Islamic and Eurobond. He said Pakistan should 'address some of the legacies of the past like, for example, in the energy sector and also strengthen institutions...