PM re-assures IMF chief of reviving Pak economy

Prime Minister Shehbaz Sharif Sunday met International Monetary Fund (IMF) Managing Director (MD) Kristalina Georgieva on the sideline the World Economic Forum Special Meeting in Saudi Arabia.

According to a PMO press release, both sides discussed Pakistan entering another IMF programme to ensure that the gains made in the past year were consolidated and its economic growth trajectory remained positive.

This was the first meeting between the prime minister and IMF MD since his re-election. The prime minister reiterated his resolve to bring in reforms to put the economy back on track.

The prime minister said that he had directed his financial team, led by Finance Minister Muhammad Aurangzeb to carry out structural reforms, ensure strict fiscal discipline and pursue policies to ensure macro-economic stability and sustained economic growth.

He thanked the IMF chief for supporting Pakistan in securing the $3 billion Standby Arrangement (SBA) last year that was about to be completed.

The IMF Executive Board is expected to meet on April 29 to decide on the final tranche of $1.1 billion under SBA.

The IMF chief appreciated the prime minister’s leadership for timely securing the SBA last year and shared with the premier her institution’s perspective on the ongoing programme with Pakistan.