World Bank president assures Asad Umar of continued support

WASHINGTON: Led by Finance Minister Asad Umar a Pakistani delegation met with officials of the World Bank and the International Monetary Fund in Washington.

Asad Umar arrived in Washington on Tuesday to hold a series of meetings with the IMF and World Bank.

The finance minister called on the World Bank President David Malpass and apprised him of the macroeconomic situation in the country and discussed Pakistan’s engagement with the Bank.

Malpass appreciated the reform process in the country and assured continued World Bank support.

Umar also met with First Deputy Managing Director of IMF David Lipton and discussed the ongoing negotiations with the Fund.

The finance minister met with members of the US Pakistan Council and discussed investment opportunities in Pakistan. He assured them that the government was trying to facilitate foreign investment in Pakistan.

The business council expressed their strong interest in Pakistan’s market and shared their future plans as well as issues where they needed support from the government.

Talking to the business council, Asad Umar said the incumbent government was completely focused on improving the ease of doing business in Pakistan.

He said Prime Minister Imran Khan was personally monitoring the reform process in this regard.

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Lately, the minister had said the country’s economy was now out of the ICU and has been moved to the stabilisation ward.

“The PTI government inherited a very sick patient that had been brought out of the ICU,” he said while speaking to the media at the launch of the draft of medium-term macroeconomic framework from 2018-19 to 2022-23.

“The government had to take emergency measures,” he said.