Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), had an important meeting with Prime Minister Shehbaz Sharif on the sidelines of the World Economic Forum today.
This was their first meeting since June 2023, when they last met during the Summit for New Global Financial Pact in Paris. During their meeting, the Prime Minister expressed his gratitude to the MDIMF for their support in securing a USD 3 billion standby arrangement for Pakistan from the IMF last year. The Executive Board of the IMF is expected to meet tomorrow to decide on the final tranche of USD 1.1 billion under the SBA arrangement.
The Prime Minister praised MDIMF for their leadership role in the standby arrangement last year. He also assured them that his government is fully committed to getting Pakistan’s economy back on track. The Prime Minister directed his finance team, headed by Finance Minister Muhammad Aurangzeb, to implement reforms, ensure strict fiscal discipline, and implement prudent policies that would ensure macroeconomic stability and sustainable economic growth.
In addition to this, the two sides also discussed Pakistan’s entry into another IMF program. This program would ensure that the gains made in the past year are consolidated and that Pakistan’s economic growth momentum remains positive. MDIMF conveyed their institution’s approach to the ongoing program with Pakistan, including the review process.The Prime Minister also invited MDIMF to visit Pakistan at their convenience.
