Ishaq Dar, IMF Mission Chief discuss economic challenges

ISLAMABAD: Finance Minister Senator Ishaq Dar and IMF Mission Chief to Pakistan Nathan Porter discussed challenges to regional economies in the wake of Climate change, ARY News reported on Monday.

According to details, Ishaq Dar held a meeting with IMF Mission Chief to Pakistan Nathan Porter, on the sidelines of International Conference on Climate Resilient Pakistan in Geneva.

During the meeting, the two discussed challenges to regional economies in the wake of Climate change. The finance minister reiterated the commitment to complete terms of Fund programme.

Meanwhile, the finance minister also held a meeting with World Bank Vice President Martin Raiser on the sidelines of Geneva Conference.

Ishaq Dar appreciated the World Bank for providing financial and technical support to cope with the challenge posed by the floods in Pakistan.

The Finance Minister also thanked Islamic Development Bank (IDB) President Muhammad Al- Jasser for providing support to Pakistan in its post-flood rehabilitation and reconstruction efforts.

United States Agency for International Development Deputy Administrator Ms Isobel Coleman also called on the finance minister, and discussed modalities of international support for reconstruction and rehabilitation of flood-hit people and areas of the country.

Earlier on January 7, Prime Minister (PM) Shehbaz Sharif held a telephonic conversation with Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva.

During the conversation, the prime minister reiterated his government’s resolve to complete the terms of Fund’s programme.

In December 2022, it was reported that Pakistan government hopes to revive the deal with the International Monetary Fund (IMF) for the disbursement of a loan tranche under the $7 billion bailout package in the month of January.

Sources said the federal government become active for a breakthrough with the IMF as the ongoing exchange of information with the fund is termed ‘satisfactory’.

‘$8.57bn pledged so far at Geneva moot’

In another Tweet, Marriyum Aurangzeb claimed that the donors at the Geneva conference had committed to give more than $8 billion to help Pakistan recover from last year’s devastating floods.

Marriyum said the first plenary of the conference had culminated in a “generous outpouring” from the international community.

Read More: PM Shehbaz says $16.3 bn needed for flood-hit areas

“The European Union pledged $93 million, Germany $88m, China $100m, Islamic Development Bank $4.2 billion, World Bank $2bn, Japan $77m, Asian Development Bank $1.5bn, USAID $100m, France $345m,” she said on Twitter.