Pakistan Must ‘Actively’ Increase Currency Reserves, IMF Says

Pakistan’s central bank must “actively” work to increase foreign exchange reserves, including adjusting interest rates, the top International Monetary Fund official to the country said.

“Pakistan needs to tap inflows including remittances, export revenue and capital transfers,” Pakistan mission head Jeffrey Franks said in a phone interview from Washington yesterday. Financial support from other international organizations likely to arrive in the next six to nine months will be “a positive,” he said.