World Bank, IMF provide assurances of continued support to Pakistan’s economy: govt – Pakistan

The International Monetary Fund (IMF) and the World Bank provided guarantees of their continued support for Pakistan's economy in meetings with the adviser to the Prime Minister of Finance, Dr. Abdul Hafeez Sheikh, a press release issued by the government said on Monday .

According to the press release, issued by the Finance Division, Sheikh, together with a delegation, including the governor of the State Bank, Reza Baqir, the secretary of Finance, Naveed Kamran Baloch and the secretary of the Economic Affairs Division, Noor Ahmed , had consecutive meetings with the managing directors. from the IMF and the World Bank to inform them about institutional reforms, as well as the steps taken during the past year to put the country's economy on the road to progress and stability.

The meetings took place in Washington DC, where the Pakistani delegation attended the annual round of meetings of the World Bank and IMF group.

At the meeting with the Managing Director (Operations) of the World Bank Axel Van Trotsenburg and other senior officials, the prime minister's advisor congratulated Trotsenburg on his appointment and thanked the Bank for his support to Pakistan.

According to the press release, Sheikh highlighted the government's focus on accelerating the rapid deployment of World Bank pipeline projects, as well as the steps taken in this regard.

The managing director of the World Bank said Pakistan was among the main partners and beneficiaries of the Bank of the International Development Association (IDA), adding that Pakistan should make "optimal use" of World Bank resources.

He also assured the Pakistani delegation of the Bank's continued support for Pakistan's development effort.

Meanwhile, in an "extensive session" with the IMF managing director, Kristalina Georgieva, and other senior IMF officials, Sheikh, together with the Pakistani delegation, provided an overview of the IMF program implementation in Pakistan.

He also congratulated Georgieva on her recent appointment as managing director of the IMF.

During the meeting, the prime minister's advisor said that the results of the first quarter (of the financial year) had indicated that Pakistan's economy was on its way to stabilization, adding that the reforms initiated under the IMF program were "demonstrating results. positive. "

According to the press release, Georgieva acknowledged the "difficult decisions" that were being made and implemented to stabilize Pakistan's economy. While appreciating the government's commitment, he assured the IMF's continued support for the reform process.