Pakistani delegation briefs IMF, WB and ADB officials on economic measures in meetings – Business

The International Monetary Fund (IMF) thanked Pakistan for its progress in achieving economic stability and the government's commitment to carry out reforms, a press release issued by the ministry of finance said on Saturday.

In a meeting with the Pakistani delegation, headed by the Adviser to the Prime Minister of Finance, Dr. Abdul Hafeez Sheikh, Director of the IMF's Middle East and Central Asia Department, Jihad Azour also discussed the implementation of the global lenders program to take out to Pakistan from its economic crisis. The meeting took place in Washington, where the Pakistani delegation had attended the annual round of meetings of the World Bank and IMF group.

The delegation, including the president of the State Bank of Pakistan, Reza Baqir, and the secretary of Finance, Naveed Kamran Baloch, also met with the president of the Asian Development Bank (ADB), Takehiko Nakao. The sheikh informed Nakao about the measures the government is taking to curb the current and capital account deficit.

The president of the ADB praised the steps taken by Pakistan to bring reforms and economic stability to the country. He also talked about the ongoing projects that are being financed by the bank in Pakistan, calling the ADB "an important financial partner" of the country, the press release added.

The sheikh also held a meeting with the vice president of the World Bank for the South Asian region, Hartwig Schafer, and his team, during which the agency reviewed its portfolio in Pakistan. Both sides also discussed the steps to strengthen cooperation between Pakistan and the World Bank.

The delegation also attended the G24 Ministers and Governors meeting on the sidelines of the IMF-WB meeting. The Sheikh also participated in an informal meeting of the finance ministers of the South Asian Regional Cooperation Association (SAARC).

Later, the delegation attended the Standard Chartered Global Investors Forum, where Sheikh offered an overview of Pakistan's economic situation and urged meeting participants to invest in the country.

Lunch was also held for the delegation of Pakistan in the United States Chamber of Commerce by the United States Commercial Council and Pakistan. Lunch was also attended by senior executives from international companies such as S&P Global, PepsiCo, Motorola Solutions Inc, Citi, Google and ExxonMobil, among others.

The sheikh informed attendees about the steps the government took to improve the ease of doing business in the country and encouraged companies to invest in Pakistan.



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