23 C
Lahore
Wednesday, February 12, 2025

IMF Chief meets PM Shehbaz, commits support for Government’s efforts

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, met with Prime Minister Shehbaz Sharif during his visit to the United Arab Emirates. She assured him of the lender’s support for the government’s decisive actions concerning the programme, as stated in a release on Wednesday.

In a post on X, she stated, “It was a pleasure to meet Prime Minister @CMShehbaz and his team.”

“I am pleased by their robust dedication to Pakistan’s IMF-supported reforms and endorse their decisive measures to facilitate higher growth and increased employment opportunities for Pakistan’s young population.”

The comments arise during the IMF team’s week-long visit to the country, which involves a thorough examination of the judicial and regulatory system as part of the ongoing $7 billion Extended Fund Facility (EFF) aimed at addressing governance and corruption vulnerabilities.

A statement from the Prime Minister’s Office (PMO) indicated that the premier met with the IMF chief during the World Governments Summit (WGS) 2025 in Dubai. The discussion focused on Pakistan’s current IMF programme and the macroeconomic stability attained through the government’s extensive reform agenda.

Additionally, the meeting emphasized Pakistan’s dedication to executing structural reforms and upholding fiscal discipline, which has been essential in reestablishing economic stability and will be vital for fostering sustainable growth.

The Prime Minister discussed the advancements achieved through the program, crediting the economic development to the bailout agreement.

Additionally, he reiterated the government’s commitment to maintaining reforms, especially in the areas of tax reform, energy sector efficiency, and the development of the private sector.

The head of the IMF praised the nation’s initiatives in successfully executing the IMF-supported program, noting the country’s enhancing economic performance characterized by increasing growth and decreasing inflation, according to the statement.

She acknowledged that Pakistan is “on the path to growth and has experienced economic recovery,” further emphasizing the IMF’s backing for its reform agenda.

The premier visited the UAE with Foreign Minister Ishaq Dar for two days at the invitation of President Sheikh Mohamed bin Zayed Al Nahyan to take part in the World Governments Summit (WGS).

The finance minister reported that the IMF chief expressed strong approval for the reform-based programme.
During a conference organized by the Securities and Exchange Commission of Pakistan (SECP), Finance Minister Muhammad Aurangzeb stated that the IMF chief expressed significant admiration for the prime minister’s leadership and dedication to the reform-based program.

He emphasized the importance of structural reforms related to taxation, energy, state-owned entities (SOEs), and public finance, particularly in the context of optimizing the federal government and implementing pension reforms.

“The managing director, Kristalina, expressed her commendation yesterday,” he stated. “For the prime minister and the leadership he has shown and the conviction that he has shown.

“The commitment demonstrated by the country regarding this reform-based program is evident, and we are making significant progress within that framework,” he added.

Latest news

- Advertisement -spot_img

Related news