Pakistan PM, IMF chief discuss reforms, flood recovery at UN meeting

Prime Minister Shehbaz Sharif met with International Monetary Fund (IMF) Managing Director Kristalina Georgieva on the sidelines of the 80th session of the United Nations General Assembly, where the two leaders discussed Pakistan’s economic reform program and recovery from devastating floods.

Sharif expressed appreciation for what he called the IMF’s “long-standing and constructive partnership” with Pakistan, which he said had strengthened under Georgieva’s leadership.

He acknowledged the IMF’s timely financial assistance during a critical period for Pakistan’s economy, citing the USD 3 billion Stand-By Arrangement for fiscal year 2023-24, followed by the USD 7 billion Extended Fund Facility and USD 1.4 billion under the Resilience and Sustainability Facility.

“The Pakistani economy is showing signs of stabilization and is now moving rapidly toward recovery, thanks to sustainable reforms undertaken with strong resolve,” Sharif said, crediting the IMF for guiding the government’s efforts.

He added that Pakistan is making “continuous progress” in meeting the targets and commitments under IMF-supported programs, signaling strong intent to stay on the path of structural reform.

The prime minister also urged the IMF to factor in the economic impact of recent floods in its ongoing assessments of Pakistan, pointing to widespread damage to infrastructure and livelihoods.

Georgieva expressed solidarity with the flood-affected population and stressed the importance of accurate damage assessments to enable effective recovery and rehabilitation.

She commended Sharif’s commitment to macroeconomic discipline and reaffirmed the IMF’s support for Pakistan’s pursuit of long-term, sustainable growth through necessary reforms.