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IMF praises

govt's economic

policies

ISLAMABAD: Managing Director IMF Michel Camdessus, has praised economic polices pursued by the present government. In a letter to the Prime Minister, he has appreciated the gains in the Pakistan economy and said that these must be translated into lasting structural improvement.

In the letter he said, "Prime Minister, allow me to express my confidence that in spite of very difficult circumstances requiring all your leadership, Pakistan faces a particularly favourable set of circumstances at this time to press ahead with policies to improve the welfare of your people.

"Economic growth has been helped by a good agricultural crop, inflation is declining, and there is large potential investor interest. I believe that your determined action in the two policy areas mentioned above is key to exploiting fully Pakistan's considerable economic potential and to bolstering domestic and foreign investor confidence in the Pakistan economy.

"You can be sure that the Fund will support your efforts and will continue to assist Pakistan in whatever way that might be possible".-APP