RAWALPINDI: Leader of the visiting IMF mission, Mr John W. Gunter, said here today [May 15] that during last one year Pakistan`s economy has registered `big improvements` and various reforms announced by the Government were `working quite well.` Mr Gunter ... was talking to [a news agency].

The IMF mission leader said that the purpose of his visit was to undertake a study of the economy and prepare a report to be submitted to the executive board of the [IMF].

Referring to the problem of rising prices, Mr Gunter said prices and inflation were the most important problem that figured prominently in their discussions with the Government officials as the Government was very much concerned with this problem.

He pointed out that inflation is a [phenomenon] common to all the countries of the world and is not subject to domestic conditions alone. However, he said [the] mission had useful discussions about the problem.

Referring to the hundred million dollars stand-by credit given by IMF to Pakistan last year, he said ... `Pakistan has made effective use of the stand-by arrangement.

...` However, he refused to make any comment if Pakistan has requested another credit from IMF. News agencies