PM Shehbaz Meets IMF, World Bank Chiefs; Calls for Stronger Support Amid Reform Push

APP

New York: Prime Minister Muhammad Shehbaz Sharif held separate meetings with International Monetary Fund (IMF) Managing Director Kristalina Georgieva and World Bank Group President Ajay Banga on the sidelines of the 80th UN General Assembly, urging stronger international support for Pakistan’s reform agenda and recovery efforts.

In his meeting with Georgieva, the prime minister underscored Pakistan’s “consistent progress” in meeting targets under the IMF programme, while stressing that the economic fallout of recent floods should be factored into future reviews. He appreciated the Fund’s longstanding partnership, particularly its timely assistance through a $3 billion Stand-By Arrangement in 2024, followed by a $7 billion Extended Fund Facility and $1.4 billion under the Resilience and Sustainability Facility.

Sharif said ongoing structural reforms were beginning to stabilise Pakistan’s economy, adding that IMF support remained crucial to sustaining recovery. Georgieva expressed sympathy for flood-affected communities and reaffirmed the IMF’s commitment, lauding Pakistan’s resolve to pursue sound macroeconomic policies.

Separately, in talks with World Bank President Ajay Banga, both sides reiterated their resolve to deepen cooperation under the Country Partnership Framework (2026–2035), which includes a historic $40 billion commitment for Pakistan. The prime minister praised the Bank’s support during the COVID-19 pandemic and 2022 floods, and briefed Banga on reforms in taxation, energy, privatisation, and climate resilience.

Sharif emphasized that the reform agenda had restored investor confidence and steered Pakistan toward macroeconomic stability. Banga welcomed the measures and reaffirmed the Bank’s commitment to Pakistan’s long-term development and climate-focused initiatives under the CPF.