WASHINGTON: Finance Minster Ishaq Dar is reported to have held meetings with officials of the World Bank and the International Monetary Fund (IMF) during his visit to the US.
According to reports gathered from media and official sources, Federal Minister for Finance & Revenue Senator Muhammad Ishaq Dar met in Washington DC with Ms. Antoinette Sayeh, Deputy Managing Director, IMF. The Minister apprised her of the damages caused by the unprecedented floods in Pakistan.
ADVERTISEMENT
During the meeting, he shared the Pak government’s vision for stabilizing the economy and carrying out sustainable and resilient recovery. The DMD IMF appreciated the government’s policies and assured of IMF’s continued support to Pakistan.
During the meeting, Dar thanked the IMF for, what he called, “excellent support extended to Pakistan for macroeconomic stabilization,” and assured of the Pakistan government’s commitment to implement the IMF program.
Later in the day, the IMF said it would send a team to Pakistan early next month to start the process for the next review of their current program.
When asked if the Fund would reschedule Pakistan’s debt and provide financial relief to the country to help it deal with the consequences of this year’s unprecedented floods, IMF’s Director of the Middle East and Central Asia Jihad Azour said “the Fund has been very supportive of Pakistan. We have a program with Pakistan that has been extended and increased in size. This is to help Pakistan deal with a confluence of shocks, starting with the Covid crisis where we provided additional flexibility.”
Meanwhile, Ishaq Dar also held a meeting with Mr. Martin Raiser, Vice President SAR, World Bank, and his team.
During the meeting, Ishaq Dar appreciated the WB for providing additional financial and technical support for managing the challenge posed by the floods. Officials said the two sides also discussed the WB portfolio in Pakistan.
The Minister also met with Dr. Muhammad Sulaiman Al Jasser, President of the Islamic Development Bank. The Finance Minister thanked Islamic Development Bank for its continued engagement with Pakistan. He appreciated that Pakistan and the Bank had remained trusted partners for decades. President Al Jasser appreciated the measures being taken by Pak government to stabilize the economy while providing relief to the flood victims.
The Finance Minister in his meeting with the leadership of Deutsche Bank and J.P. Morgan elaborated upon the government’s vision to stabilize the economy, while also providing relief to the victims of the flood. He assured that the GoP was committed to completing the IMF’s program.
The Pak delegation also met with rating agencies and participated in several events being held during the Annual Meetings. The delegation also engaged at the Pakistan House with a diverse group of Pakistani professionals including leading businessmen, tech entrepreneurs, and others.
The Finance Minister is leading Pakistan’s delegation in the IMF / World Bank’s 2022 Annual meetings being held in Washington DC. Other delegates include Sardar Ayaz Sadiq. Federal Minister for Economic Affairs, Dr. Aisha Ghaus Pasha, Minister of State for Finance & Revenue, Mr. Jameel Ahmed, Governor State Bank of Pakistan, Mr. Hamed Yaqoob Sheikh, Finance Secretary, Dr. Kazim Niaz, Secretary of Economic Affairs Division and Mr. Ali Tahir, Additional Secretary, Finance Division.
