IMF hails Pakistan's economic reforms, assures continued support

International Monetary Fund (IMF) and the World Bank have assured continued support to Pakistan’s economy, while the global funds also appreciated the economic reforms of the country.

The assurances were given by the Managing Directors of the IMF and the Work Bank during separate meetings with Adviser on Finance Abdul Hafeez Sheikh in Washington, Radio Pakistan reported.

During a meeting, Shaikh and his delegation held an extensive session with the IMF Managing Director Ms Krsitalina Georgieva and other senior Fund officials.

The finance adviser gave an overview of the implementation of the IMF program in Pakistan. He stated that the first quarter results indicated that Pakistan’s economy was on its path to stabilization. The reforms initiated under the IMF program were demonstrating positive outcomes.

Ms. Georgieva stated that the IMF recognized that tough decisions were being made and implemented to stabilize Pakistan’s economy. She appreciated the commitment of the government and assured continued support of the IMF for the reform process.

In a separate meeting with Managing Director of World Bank Axel Van Trotsenburg, Hafeez Sheikh highlighted the government’s focus on expediting the speedy rollout of the World Bank’s projects and actions being taken in this regard.  He also appreciated the supported being provided by the bank to Pakistan.

Axel Van Trotsenburg mentioned that Pakistan is among the World Bank’s largest partners and beneficiaries of the International Development Association. He said that Pakistan should make optimal use of available World Bank resources and assured the Bank’s continued support to Pakistan’s development effort.