IMF delegation meets PM Shehbaz as Islamabad prepares Budget FY26
- Fund to continue support Pakistan's economic reforms
With Pakistan’s budget for fiscal year 2025-26 just days away, Prime Minister Shehbaz Sharif met with an International Monetary Fund (IMF) delegation to review the country’s ongoing economic reform agenda under the Fund’s programme.
The high-level meeting, held on Thursday, was led by Jihad Azour, Director Middle East and Central Asia Department (MCD) at the IMF.
Federal Ministers Ahad Khan Cheema, Muhammad Aurangzeb, Secretary Finance Imdadullah Bosal, Chairman Federal Board of Revenue (FBR) Rashid Mahmood Langrial, among other relevant senior officials, also attended the meeting.
According to a statement from the Prime Minister’s Office (PMO), the two sides discussed the progress of the ongoing IMF programme in Pakistan. Satisfaction was expressed over the government’s implementation of reforms and the positive outcomes achieved thus far.
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“By the grace of God, Pakistan is moving towards development after economic stability,” PM Shehbaz remarked.
The prime minister reiterated his government’s commitment towards accelerating institutional reforms along with reforms at the macroeconomic level.
Meanwhile, the IMF delegation also conveyed its continued support for Pakistan’s reforms, economic stability and development, the PMO said.
In March, the IMF staff reached a deal with Pakistan for a new $1.3 billion arrangement and also agreed on the first review of the ongoing 37-month bailout programme.
On July 2024, the Pakistani authorities and the IMF reached a staff-level agreement on the EFF in the amount equivalent to SDR 5,320 million (or about USD 7 billion), which was later approved by the IMF’s Executive Board in the last week of September.
Analysts believe the IMF programme is crucial as it gives the government a roadmap for economic reforms while providing a cushion to the country’s foreign exchange reserves.
Pakistan is set to announce the Federal Budget FY26 on June 02, 2025.
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