Washington, DC --- 8 July 2019
1. Setup shot of Ernesto Ramirez-Rigo, IMF Mission Chief to Pakistan
2. SOUNDBITE: (English) Ernesto Ramirez-Rigo, IMF Mission Chief to Pakistan:
“The objective of the program is to basically achieve sustainability to accelerate growth to reduce debt so that there is more space for social spending like health education or development. And to put the country back and the road of prosperity.”
3. Profile shot
4. SOUNDBITE: (English) Ernesto Ramirez-Rigo, IMF Mission Chief to Pakistan:
“The key elements include as the number one priority is revenue mobilisation and it is important to start increasing the amount of revenues available. We are not reducing expenditure. At the same time there is a need for more social spending and the program also includes flexible market determined exchange rate.”
5. Profile shot
6. SOUNDBITE: (English) Ernesto Ramirez-Rigo, IMF Mission Chief to Pakistan:
“No. The budget actually has no reduction in expenditure. In fact in terms of social spending the budget includes very sizable increases. Some programs increase by as much as 80 percent. And at the same time all therefore is focus on revenue more mobilization.”
7. Profile shot
8. SOUNDBITE: (English) Ernesto Ramirez-Rigo, IMF Mission Chief to Pakistan:
“The IMF program acts as a catalyst. Essentially we create a framework around which many of their international partners of Pakistan will be providing financing. So for example multilateral development banks will all participate committing significant resources and also bilateral countries friendly countries will maintain that exposure throughout the program period.”