New York : On the sidelines of the 80th session of the United Nations General Assembly, Prime Minister of Pakistan Muhammad Shehbaz Sharif held an important meeting with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF). The discussion focused on Pakistan’s economic situation, ongoing reform programs, and the impact of recent floods on the country’s economy.
Prime Minister Shehbaz Sharif appreciated Pakistan’s long-standing partnership with the IMF and acknowledged the improvement in this cooperation under Kristalina Georgieva’s leadership. He expressed gratitude for the timely support extended to Pakistan through the $3 billion Stand-By Arrangement (SBA) during FY2024, the $7 billion Extended Fund Facility (EFF), and the $1.4 billion Resilience and Sustainability Facility (RSF).
The Prime Minister stated that Pakistan’s economy is now on a more stable footing, with positive outcomes beginning to emerge from the government’s sustainable reform initiatives. However, he also stressed that the devastating floods had adversely affected the economy and that this factor must be taken into consideration in future decisions.
IMF Chief Kristalina Georgieva expressed sympathy for the flood victims and emphasized the importance of accurately assessing the humanitarian and economic losses. She commended the economic policies implemented under Prime Minister Shehbaz Sharif’s leadership and reaffirmed the IMF’s continued support for Pakistan’s reforms and long-term development goals.
