ISLAMABAD STAFF REPORTER
Prime Minister Muhammad Shehbaz Sharif has lauded the International Monetary Fund’s (IMF) longstanding and constructive partnership with Pakistan, emphasizing the country’s steady progress in meeting targets and commitments under the IMF program. He also highlighted the importance of factoring in the economic impact of recent floods in the Fund’s ongoing review of Pakistan’s economy.
According to a statement released by the Prime Minister’s Office on Wednesday, Shehbaz Sharif expressed these views during a meeting with IMF Managing Director Kristalina Georgieva on the sidelines of the 80th session of the United Nations General Assembly.
The Prime Minister appreciated the strengthening of Pakistan-IMF relations under Georgieva’s leadership and acknowledged the timely support extended by the IMF in recent years. He referred to the $3 billion Stand-By Arrangement for the fiscal year 2024, the subsequent $7 billion Extended Fund Facility (EFF), and the $1.4 billion Resilience and Sustainability Facility (RSF) as critical steps in Pakistan’s path toward economic stability.
He stated that the country is witnessing signs of macroeconomic stability due to sustainable reforms pursued with firm commitment, and the economy is now moving swiftly toward recovery. The Prime Minister also acknowledged the IMF’s guiding role in supporting the government’s reform agenda.
Highlighting Pakistan’s continued progress in fulfilling IMF program benchmarks, Shehbaz Sharif urged that the economic fallout from the recent floods be incorporated into the IMF’s upcoming assessments.
In response, IMF Managing Director Kristalina Georgieva expressed sympathy for the flood-affected people of Pakistan and underlined the importance of accurate damage assessments to ensure effective recovery efforts. She commended the Prime Minister’s commitment to implementing strong macroeconomic policies and reaffirmed the IMF’s continued support as Pakistan undertakes crucial economic reforms aimed at achieving long-term sustainable growth.
