Despite Regional Conflicts, Pakistan is Advancing on Path of Economic Stability: Prime Minister Shehbaz Sharif Meets IMF MD Kristalina Georgieva
NEW YORK : Prime Minister Shehbaz Sharif has said Pakistan has been able to successfully move beyond overall macroeconomic stabilization to sustainable economic recovery despite the challenges of external inflation and geopolitical tensions in the region because of wise management of its fiscal policies.
The Prime Minister held a meeting with the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, on the sidelines of the UN General Assembly in New York, according to official sources. Prime Minister Shehbaz warmly appreciated the IMF’s continued support for Pakistan’s economy and reiterated his government’s steadfast commitment to successfully executing the ongoing reform agenda.
Structural Reforms and Fiscal Discipline are the focus of highlighting.
At the high-level meeting, the Prime Minister reiterated the Government’s unwavering commitment to undertake structural reforms aimed at boosting the domestic economy and creating the foundations for inclusive growth. He pointed to a number of crucial developments such as:
Tight control of the fiscal budget and strengthening of external financial buffers.
A tangible boost in investor confidence and in foreign direct investment.
Solid advances in the collection of domestic taxes, the rationalisation of tariff measures and the privatisation of state-owned enterprises.
In addition, the Prime Minister highlighted the government’s indomitable commitment to ensuring the safety and security of vulnerable groups and to putting in place stringent economic changes.
Pakistan’s performance is commended by IMF Managing Director.
The managing director of the IMF, Kristalina Georgieva, congratulated Pakistan for doing well in its current programme of economic stabilisation and noted that the government’s economic measures were beginning to have positive impact.
Both leaders shared insights into the next steps for programmatic reviews, shared plans for ongoing collaboration to advance economic resilience over time, and pathways to advance sustainable development.