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WASHINGTON DC: Finance Minister Ishaq Dar has asked International Monetary Fund (IMF) for more policy support for Pakistan in the wake of cataclysmic floods linked to climate change that killed over 1,600 people and affecting roughly 33 million people.
Finance Minister highlighted the humanitarian catastrophe and losses suffered by the country. Given the scale of disaster, he pleaded more policy support for Pakistan. He welcomed new IMF instruments (Resilience and Sustainability Trust (RST) and Food Shock Window under Rapid Financing Instrument (RFI) to support countries.
Finance Minister called for greater policy support from IMF & multilateral donors.
According to a press release issued by Finance Division on Sunday, Managing Director (MD) IMF highlighted challenges facing regional economies including from Climate Change events citing Pakistan’s damaging floods. She expressed her deep sympathies with Pakistan and assured Fund’s full support. Finance Minister thanked MD IMF for her sentiments and committed to completing the Fund program despite challenges.
Addressing a meeting of MENAP (Middle East, North Africa, Afghanistan, and Pakistan) Ministers of Finance and Central Bank Governors with the Managing Director IMF Kristalina Georgieva, he urged IMF to tailor its response to the situation in Pakistan and similar countries, by taking into consideration the serious economic, social and political challenges that these countries face in the backdrop climate induced calamities.