PM Shehbaz tells IMF chief about commitment to revive economy

RIYADH: Prime Minister Shehbaz Sharif on Sunday met with Managing Director (MD) of the International Monetary Fund (IMF) Kristalina Georgieva wherein he reiterated his government’s commitment to put Pakistan’s economy back on track.

In the meeting held on the sidelines of the World Economic Forum Special Meeting here, 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 prudent policies that would ensure macro-economic stability and sustained economic growth, according to a PM Office press release.

He thanked Georgieva for supporting Pakistan in securing the USD 3 billion Standby Arrangement (SBA) from IMF 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 USD 1.1 billion under SBA.

The IMF chief appreciated the prime minister’s leadership for timely securing the SBA last year.

Both sides also discussed Pakistan entering into another IMF program to ensure that the gains made in the past year were consolidated and its economic growth trajectory remained positive.

IMF MD shared her institution’s perspective on the ongoing program with Pakistan, including the review process.

This was the first meeting between the prime minister and IMF MD since his re-election. They last met in Paris in June 2023 on the margins of the Summit for New Global Financial Pact.

Prime Minister Shehbaz also extended an invitation to the IMF MD to visit Pakistan at her convenience.