In a significant development, Prime Minister Muhammad Shehbaz Sharif met with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), on the sidelines of the World Governments Summit in Dubai.¹ This meeting marks a crucial step in strengthening economic ties between Pakistan and the IMF.
During the meeting, Prime Minister Shehbaz Sharif and Kristalina Georgieva discussed Pakistan's ongoing IMF program and the macroeconomic stability achieved through the government's comprehensive reform agenda. The IMF chief commended Pakistan's efforts in effectively implementing the IMF-supported program, highlighting the country's improving economic performance with rising growth and declining inflation.
The prime minister reaffirmed the government's resolve to sustain reforms, particularly in tax reforms, energy sector efficiency, and private sector development. This commitment is expected to drive sustainable growth and economic stability in Pakistan. The meeting also focused on Pakistan's commitment to implementing structural reforms and maintaining fiscal discipline.
Kristalina Georgieva expressed her support for Pakistan's economic reforms and praised Prime Minister Shehbaz Sharif's leadership in securing the USD 7 billion Extended Fund Facility (EFF) loan program. This program aims to help Pakistan tackle its balance of payment issues while implementing tough conditions.
The meeting between Prime Minister Shehbaz Sharif and Kristalina Georgieva is a testament to the strong partnership between Pakistan and the IMF. Both parties are committed to working together to achieve economic stability and growth in Pakistan.
As Pakistan continues to navigate economic challenges, the support of international institutions like the IMF is crucial. The outcome of this meeting is expected to have a positive impact on Pakistan's economic future, and we can expect to see further developments in the coming months.
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