PM Shehbaz Urges IMF to Consider Flood Impact in Next Programme Review

Pakistan Seeks Flexibility Amid Economic Reforms

Prime Minister Shehbaz Sharif has called on the International Monetary Fund (IMF) to factor in the economic cost of recent floods during its next programme review. He made the request in a meeting with IMF Managing Director Kristalina Georgieva on the sidelines of the United Nations General Assembly.

Acknowledgment of IMF Support

The prime minister praised the IMF’s constructive partnership with Pakistan, highlighting its timely assistance under different instruments. This includes the $3 billion Stand-By Arrangement in FY 2024 and the $7 billion Extended Fund Facility (EFF). He said Pakistan is making steady progress toward meeting programme targets.

Reforms Driving Stabilisation

PM Shehbaz noted that structural reforms are beginning to stabilise the economy and guide it toward recovery. He appreciated the IMF’s role in supporting these reforms, calling the cooperation “instrumental” in Pakistan’s economic turnaround.

IMF’s Continued Commitment

Kristalina Georgieva expressed sympathy for those affected by the floods and stressed the importance of a proper damage assessment to set recovery priorities. She commended Pakistan’s commitment to sound macroeconomic policies and assured the IMF’s continued support for long-term sustainable growth.