PM vows to complete current IMF programme

CAIRO: Prime Minister Shehbaz Sharif on Monday expressed the commitment to complete the current International Monetary Fund (IMF) programme.

The PM was talking to Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva in Egypt on Monday on the sidelines of the COP 27 summit.

The Prime Minister said Covid-19 pandemic, global recession and the recent flash floods had adversely affected pace of Pakistan’s economic recovery. He said “we have changed our budget estimates for immediate support and rehabilitation of flood victims.”

Acknowledging the cooperation of IMF, the PM expressed the commitment to complete the latest IMF programme, and hoped that the COP27 summit would be a milestone in achieving climate justice.

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Pakistan and European Union have agreed to make joint efforts for combating the effects of climate change. The understanding was reached during meeting of PM Shehbaz Sharif with President of European Union Commission Ursula von der Leyen on the sidelines of COP 27 summit in Egypt.

Underscoring the need for international cooperation to address challenges of climate change, the PM said the “whole world will have to suffer the effects of climate change in future which developing countries are facing today.”

He appreciated the cooperation of European countries in removing Pakistan from FATF’s grey list and their spirit of helping the flood affected people in Pakistan. Shehbaz Sharif said Pakistan and the European Union were important partners in achieving common goals. He said there existed huge trade potential between Pakistan and European Union which needed to be taken to the optimum level.

PM Shehbaz Sharif held a meeting with Secretary General of Arab League Ahmed Aboul Gheit on the sidelines of Climate Implementation Summit in Sharm Al Sheikh. They discussed issues of bilateral and mutual interest and agreed on strong cooperation to prevent the devastating effects of climate change. The PM appreciated the Arab League Charter and Secretary General’s determination to achieve it.

Earlier, on arrival at Sharm El-Sheikh International Convention Centre, Egyptian President Abdel Fatah El-Sisi and United Nations Secretary General Antonio Guterres welcomed Prime Minister Shehbaz Sharif.