ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday met Managing Director of the International Monetary Fund (IMF) Ms Kristalina Georgieva.
The meeting took place on the sidelines of New Global Financial Pact summit being held in Paris. During the meeting, views were exchanged on the ongoing programme and cooperation between Pakistan and the IMF.
Recalling their recent telephone conversation on 27 May, the prime minister apprised the IMF chief of Pakistan’s economic outlook.
PM Shehbaz Sharif outlined the steps taken by the Government for economic growth and stability. He underscored that all prior actions for 9th Review under the Extended Fund Facility had been completed. He said the government was fully committed to fulfilling its obligations as agreed with the IMF.
The prime minister expressed hope that the funds allocated under the EFF would be released as soon as possible. This would help strengthen Pakistan’s on-going efforts towards economic stabilization and bring relief to its people, he said.
The Managing Director of IMF shared her institution’s perspective on the ongoing review process. The meeting provided a useful opportunity to take stock of the progress in that context.
Minister for Climate Change and Environmental Coordination Sherry Rehman, Minister for Economic Affairs Sardar Ayaz Sadiq, Minister for Information and Broadcasting Marriyum Aurangzeb, Minister of State for Finance and Revenue Aisha Ghaus Pasha, Special Assistant to PM Tariq Fatemi and Pakistan’s Ambassador to France Asim Iftikhar Ahmad attended the meeting.
The current IMF programme will expire on June 30 and the ninth review under the Extended Fund Facility (EFF) programme has not been approved since November 2022.
Pakistan faces about $22 billion of external debt service for the fiscal year 2024, which begins in July, which is about five times its reserves. The coalition government has been negotiating with the Washington-based lender to revive its bailout programme since November.
