Pakistan agreed to implement the Memorandum of Economic and Financial Policies (MEFP), which contained policy suggestions by IMF. Emphasising that Pakistan collect taxes from the rich and give benefits to the poor, Georgieva highlighted that the country did not need debt restructuring. In separate comments, Georgieva said that money collected from the rich in the form of taxes should be spent on those who needed the government’s help. She questioned why the rich in Pakistan should benefit from the subsidies and should not pay taxes in the face of tremendous challenges. She concluded by saying that the IMF was “very clear that it wants the poor people of Pakistan to be protected”.
