Good News| Expand poverty alleviation schemes IMF
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Good News| Expand poverty alleviation schemes IMF
ISLAMABAD:
The IMF has urged Pakistan to work harder to reduce poverty as talks on a new loan program continue.
The request came during the fourth day of talks between Pakistan and the IMF on the review of the new loan program. IMF representatives called for the expansion of poverty reduction and social protection programs.
In particular, IMF representatives urged the government to improve the coverage and effectiveness of the Benazir Income Support Program (BISP) by improving administrative efficie
increased funding
He also asked for increased funding for cash transfer programs targeted at the poor.
officials also told IMF investigators that the number of BISP office. beneficiaries has reached 93 million.
He added that this year, another 300,000 families expanded the support program.
In addition, 900,000 households are enrolled in cash transfer programs.
Officials told representatives of international lenders that 1.9 million children are part of the education transfer program.
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He also said that more money will be invested in social security programs next year.
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loans: The IMF provides low-income or even zero loans through the Poverty Reduction and Growth Trust (PRGT) of the IMF. These provide financial programs that can reduce poverty. Policy Advice
The IMF advises LICs
The IMF advises LICs on economic policies that can promote growth and stability. A stable economy is better prepared to create jobs, develop infrastructure and provide a social safety net – all of which can contribute to poverty reduction.
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Capacity Building: The IMF assists LICs in building the necessary expertise to manage their finances. This helps them to develop and implement effective strategies to reduce poverty.
Debt Relief: The IMF participates in international debt relief for LICs facing natural disasters or public health crises. This frees up resources that these countries can use for poverty reduction programs [IMF aid to low-income countries].
Question: Does the IMF directly implement poverty reduction programs?
A: No, the IMF does not manage poverty reduction programs in individual countries.
Question: How does the IMF help reduce poverty?
A: The IMF works indirectly to reduce poverty by:
Providing low-interest loans (PRGT) to low-income countries for poverty reduction programs.
National advice on economic policy to promote growth and stability, which can create jobs and improve the social security network.
Facilitating the development of economic management skills helps countries develop better anti-poverty strategies.
Participate in debt reduction efforts, freeing up resources for poverty programs.
Question: Why does the IMF focus on economic conditions instead of supporting poverty programs?
A: The IMF believes that a stable and growing economy is the foundation for successful poverty reduction efforts. When a country has a strong economy, it can create jobs, build infrastructure, and finance social programs that directly help the poor.
