The International Monetary Fund (IMF) and the World Bank have assured of their continued support to Pakistan’s development efforts and economic reform process undertaken by the government in Islamabad.
Adviser to Prime Minister on Finance Dr. Abdul Hafeez Shaikh and his team are in Washington DC to attend the annual meetings of the global financial institutions. They held back-to-back meetings with the managing directors of the World Bank and the International Monitory Fund to apprise them of the institutional reforms to put the economy on a path.
In the first meeting, the Pakistani delegation held a meeting with World Bank Managing Director Axel Van Trotsenburg and other senior officials of the bank. The adviser congratulated the new head on his appointment and appreciated the support being provided by the World Bank to Pakistan.
He highlighted the government’s focus on expediting the speedy rollout of the World Bank pipeline of projects and actions being taken in this regard. Trotsenburg mentioned that Pakistan is among the World Bank’s largest partners and beneficiaries of the International Development Association (IDA) besides making optimal use of available resources.
He assured the bank’s continued support to Pakistan’s development effort. In a separate meeting, the Pakistani delegation had an extensive session with IMF Managing Director Krsitalina Georgieva and other senior officials. The adviser congratulated the new head on her appointment and gave an overview of the implementation of the IMF program in Pakistan.
He stated that the first quarter results indicated that Pakistan’s economy is on its path to stabilization. He said that the reforms initiated under the IMF program are demonstrating positive outcomes. Georgieva said that the IMF recognized that tough decisions were being made and implemented to stabilize Pakistan’s economy. She assured continued support of the IMF for the reform process.