David Lipton, Acting Managing Director of International Monetary Fund (IMF) called on Prime Minister Imran Khan at the Embassy of Pakistan, Washington.
He was accompanied by Jihad Azour, Director of the Middle East and Central Asia Department and Jafar Mujarrad, Executive Director of the Fund and Alfred Kammer, Chief of Staff, Office of the Managing Director.
The Prime Minister was assisted by Makhdoom Shah Mahmood Qureshi, Foreign Minister; Hafeez Shaikh, Adviser to the Prime Minister on Finance; Abdul Razak Dawood, Adviser to the Prime Minister on Commerce; Mr. Sohail Mahmood, Foreign Secretary and Ambassador Asad Majeed.
In the meeting, the Prime Minister thanked the IMF Board of Directors for approving the recent Extended Fund Facility (EFF) for Pakistan.
The Prime Minister pointed out that reforms implemented under the IMF Program will be instrumental in stabilizing the economy and reviving growth.
He expressed his government’s commitment to take all necessary measures needed to resolve the macroeconomic and structural challenges for sustainable and long-term growth.
The Prime Minister underscored that his government was determined to minimize the initial adverse impact of the reform process on the vulnerable social groups through enhanced allocation for social sectors and social protection initiatives including the Ehsaas Programme. Lipton acknowledged various initiatives undertaken by the government to stabilize the economy.
He stressed the importance of continued implementation of the agreed fiscal, monetary, exchange rate and structural reforms to fully benefit from the IMF Programme. The Managing Director assured the Prime Minister of the Fund’s continued support for reform implementation process in Pakistan.
Meanwhile, President of the World Bank David Malpass called on Prime Minister Imran Khan at the Embassy of Pakistan, Washington. The Prime Minister congratulated Malpass on his assumption of the important responsibility of World Bank President.
The Prime Minister appreciated the tremendous support extended by the Bank in different sectors of the Pakistan’s economy over the years.
He reiterated his government’s people-centric development agenda focused on increased spending on health, education and youth of Pakistan.
While highlighting government’s reform priorities including improving the ease-of-doing business, the Prime Minister expressed satisfaction with assistance and stewardship being provided by the World Bank.
He hoped that the Bank would roll forward the pipeline projects and assured the Bank’s President of his government’s support in this regard.
Appreciating Prime Minister’s development agenda, David Malpass observed that Pakistan was an important country in the region with a large portfolio of World Bank projects.
He hoped that Pakistan’s entry into a new IMF program should go a long way in ensuring macroeconomic stability and rejuvenating confidence of foreign investors in Pakistan.
He also appreciated the social protection programs of the government including skill development of the youth – preparing them for the job market.
Malpass assured the Prime Minister of World Bank’s steady and prompt support in implementing Prime Minister’s vision of economic development. —Agencies