PM Shehbaz to meet IMF, World Bank heads in New York today – Pakistan

Pakistan

PM Shehbaz to meet IMF, World Bank heads in New York today

He said Islamabad had met strict conditions of the IMF and hoped that Pakistan would get the loan

Updated On: Wed, 25 Sep 2024

11:50:45 PKT

NEW YORK (Dunya News) – Prime Minister Shehbaz Sharif will meet the heads of the International Monetary Fund (IMF) and the World Bank on Wednesday (today), a couple of hours before the lender’s board is scheduled to take up Pakistan’s request for an extended loan facility (EFF).

Earlier, the prime minister, in a meeting with Turk President Tayyip Erdogan here, mentioned that Islamabad had met strict conditions of the IMF and hoped that Pakistan would get fiscal assistance to stabilise the country’s economy.

Before today’s meeting, the prime minister expressed optimism that his talks with the IMF officials will pave the way for the finalisation of a new package.

Premier Shehbaz is expected to meet today IMF Chief Kristalina Georgieva and World Bank President Ajay Banga on the sidelines of the United Nations General Assembly session.

It may be recalled that IMF Director of Strategic Communications Julie Kozack had informed reporters in Washington earlier this month that the Fund had scheduled the board meeting after receiving assurances that “Pakistan is obtaining necessary financing from its development partners”.

The $7 billion EFF agreement, reached in July, awaits formal approval from the IMF’s executive board. 

Also read: PM Shehbaz, President Erdogan agree to strengthen trade, investment, defence ties

Acknowledging Saudi Arab, the UAE and China’s support, Prime Minister Shehbaz Sharif has said that the economic indicators of Pakistan are gradually improving.

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