World Bank, IMF assures continued support to Pakistan's economy

• World Bank MD said Pakistan was among bank’s largest partners and beneficiaries of IDA.
• IMF MD recognised tough decisions that were being made and implemented to stabilise Pakistan's economy.

Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh held a meeting on Monday with the International Monetary Fund (IMF) and the World Bank.

The PM's advisor is in Washington DC along with State Bank Governor Reza Baqir. In his meeting with World Bank Managing Director (Operations) Axel Van Trotsenburg , the PM’s advisor appreciated the support being provided by the World Bank to Pakistan. “He highlighted the government’s focus on expediting speedy rollout of the World Bank pipeline of projects and actions being taken in this regard," the Ministry of Finance said on Twitter.

Trotsenburg mentioned that Pakistan was among the World Bank’s largest partners and beneficiaries of International Development Association (IDA). The managing director added that Pakistan should make optimal use of available World Bank resources and assured the bank’s continued support to Pakistan’s development effort.

He said that Pakistan should make optimal use of available World Bank resources and assured the Bank’s continued support to Pakistan’s development effort.

— Ministry of Finance (@FinMinistryPak) October 21, 2019

In another meeting with the IMF Managing Director Kristalina Georgieva and other senior IMF officials, Sheikh gave an overview of implementation of the IMF program in Pakistan. The PM's advisor stated that results indicated that Pakistan’s economy was on its path to stabilization. The reforms initiated under the IMF program were demonstrating positive outcomes.

Ms Georgieva stated that the IMF recognized that tough decisions were being made and implemented to stabilize Pakistan’s economy. She appreciated the commitment of the government and assured continued support of the IMF for the reform process. pic.twitter.com/gCFSX7zWHS

— Ministry of Finance (@FinMinistryPak) October 21, 2019

The IMF director said that the IMF recognized that tough decisions were being made and implemented to stabilize Pakistan’s economy. Georgieva appreciated the commitment of the government and assured continued support of the IMF for the reform process.