Prime Minister Shehbaz Sharif recently held a significant meeting with Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, during a visit to Riyadh, the capital of Saudi Arabia. The meeting took place on the sidelines of a special session of the World Economic Forum, where discussions centered on Pakistan’s economic trajectory and its engagement with the IMF.
According to a statement released after the meeting, Prime Minister Shehbaz Sharif and MDIMF Kristalina Georgieva deliberated on Pakistan’s potential entry into another program of the IMF. Additionally, the ongoing IMF program in Pakistan, including the review process, was a focal point of the discussions.
The statement further highlighted that Prime Minister Shehbaz Sharif extended an invitation to MDIMF Georgieva to visit Pakistan, signifying the government’s commitment to fostering productive dialogues and partnerships with international financial institutions.
This meeting marked Prime Minister Shehbaz Sharif’s first interaction with the IMF since his re-election, with his last encounter dating back to June 2023 during the Summit for New Global Financial Pact held in Paris. During the meeting, Prime Minister Shehbaz Sharif expressed gratitude for the IMF’s support in securing a standby arrangement of US$ 3 billion for Pakistan last year. MDIMF Georgieva, in turn, commended the leadership role played by Prime Minister Shehbaz Sharif in facilitating the standby arrangement.
Emphasizing the government’s dedication to revitalizing Pakistan’s economy, Prime Minister Shehbaz Sharif reiterated his commitment to implementing comprehensive reforms and fostering strict financial discipline. He underscored the importance of macroeconomic stability and instructed the finance team to execute policies aimed at achieving this objective.
Meanwhile, the Executive Board of the IMF is expected to convene tomorrow, with discussions likely to focus on the disbursement of the final installment of 1.1 billion. This installment is anticipated to further support Pakistan’s ongoing economic reform efforts and bolster its financial resilience in the face of global economic challenges.
The meeting between Prime Minister Shehbaz Sharif and MDIMF Kristalina Georgieva underscores Pakistan’s commitment to engaging constructively with international financial institutions to address economic challenges and promote sustainable development. It reflects the government’s proactive approach towards seeking assistance and guidance from global stakeholders in navigating complex economic landscapes.
As Pakistan endeavors to navigate its economic recovery and growth trajectory, such engagements with the IMF serve as crucial platforms for fostering cooperation, exchanging ideas, and charting a course towards a more resilient and prosperous future. Prime Minister Shehbaz Sharif’s proactive engagement with the IMF reaffirms the government’s determination to prioritize economic stability and prosperity for the benefit of all Pakistani citizens.
