Pakistan wins crucial IMF, World Bank support amid Flood Crisis

NEW YORK – Prime Minister Shehbaz Sharif held high-stakes meetings with IMF Managing Director Kristalina Georgieva and World Bank President Ajay Banga on the sidelines of the 80th UN General Assembly, showcasing Pakistan’s commitment to bold economic reforms and resilience amid unprecedented challenges.

In talks with Georgieva, PM Sharif praised the IMF’s unwavering support, highlighting instruments such as the $3 billion Stand-By Arrangement, $7 billion Extended Fund Facility (EFF), and $1.4 billion Resilience & Sustainability Facility (RSF). He emphasized that Pakistan’s economy is beginning to stabilize and recover through deep structural reforms while urging the IMF to factor in the devastating impact of recent floods during its review.

An IMF team will visit Pakistan on September 25 for the second semi-annual EFF review covering March and June 2025 quarters. Approval of the review could release a $1 billion tranche, adding to over $2 billion already disbursed. Georgieva expressed sympathy for flood victims and reaffirmed the IMF’s commitment to Pakistan’s long-term reform agenda.

In a separate engagement, PM Sharif updated World Bank President Banga on Pakistan’s ambitious reform programs, including resource mobilization, energy sector reforms, privatization, and climate resilience measures. These initiatives, he noted, have stabilized the economy, restored investor confidence, and set the stage for sustainable, inclusive growth.

The prime minister also welcomed the World Bank’s new Country Partnership Framework (2026–2035), which pledges an unprecedented $40 billion for Pakistan. Both leaders vowed to deepen collaboration to accelerate the country’s development priorities and ensure effective implementation at all levels.

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