Prime Minister meets IMF chief, discusses new loan program

Islamabad: Prime Minister Shehbaz Sharif and International Monetary Fund (IMF) Managing Director Kristalina Georgieva had an important informal meeting during the World Economic Forum meeting in Saudi Arabia where Pakistan’s entry into another loan program was discussed. .

According to a statement issued by the Prime Minister’s Office, Prime Minister Shehbaz Sharif during the meeting thanked Kristalina Georgieva for her support to Pakistan in obtaining a Standby Arrangement (SBA) of US$ 3 billion from the IMF last year.

This was Prime Minister Shahbaz Sharif’s first meeting with MDIMF since he was elected as prime minister for two terms, having previously met during the Summit for New Global Financial Pact in Paris in June 2023.

A meeting of the IMF’s executive board is expected tomorrow, which is likely to decide the final tranche of US$1.1 billion under the SBA, during which the IMF last year agreed to a standby arrangement. Appreciated the leadership role of the Prime Minister.

On this occasion, Prime Minister Shehbaz Sharif told the IMF chief that his government is fully committed to bring Pakistan’s economy back on track.

He said that he has directed his financial team headed by Finance Minister Muhammad Aurangzeb to carry out reforms, ensure strict financial discipline and implement wise policies that ensure macroeconomic stability and sustainable economic growth.

Prime Minister Shehbaz Sharif and Kristalina Georgieva also discussed Pakistan’s entry into another IMF program to ensure that the gains made last year are consolidated and its economic growth momentum is positive. stay

During the meeting, the head of the IMF conveyed his institution’s point of view regarding the ongoing program with Pakistan, including the review process, while Prime Minister Shehbaz Sharif extended an invitation to MDIMF to visit Pakistan at his convenience. gave