PM demands to include flood impact on economy in IMF assessment

New York: Prime Minister Shehbaz Sharif met with the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, on the sidelines of the 80th session of the United Nations General Assembly. The Prime Minister also demanded that the impact of the floods on the Pakistani economy be included in the IMF review.

In the meeting, the Prime Minister appreciated the IMF’s long-standing partnership with Pakistan, saying that cooperation has become stronger under the leadership of Kristalina Georgieva.

He thanked the IMF for the timely provision of a $3 billion Stand-By Arrangement in fiscal year 2024, a $7 billion Extended Fund Facility (EFF) in the future, and a $1.4 billion Resilience and Sustainability Fund (RSF).

The Prime Minister thanked the sustainable reforms that were carried out with firm determination. Pakistan’s economy is showing positive signs of stability and is now moving towards recovery.

He stressed that Pakistan is making steady progress on the goals and commitments of the IMF program. However, the economic impact of the recent floods should also be included in the review.

The IMF Managing Director expressed sympathy with the flood victims and stressed the importance of assessing the losses.

She appreciated the Prime Minister’s commitment to implementing sound macroeconomic policies and assured that the IMF would continue to support Pakistan’s reform efforts for long-term sustainable economic growth.