Prime Minister Shehbaz Sharif held separate meetings with International Monetary Fund (IMF) Managing Director Kristalina Georgieva and World Bank Group (WBG) President Ajay Banga on the sidelines of the 80th United Nations General Assembly in New York, focusing on Pakistan’s economic reforms, flood recovery, and long-term development cooperation.
During his discussion with Georgieva, the prime minister reiterated Pakistan’s progress on the IMF program commitments but stressed that the recent flood devastation must be factored into the lender’s upcoming review. He acknowledged the IMF’s consistent support through various facilities, including the $7 billion Extended Fund Facility (EFF), $3 billion Stand-By Arrangement, and $1.4 billion Resilience & Sustainability Facility. Georgieva commended Pakistan’s reform efforts, expressed sympathy for flood victims, and reaffirmed the IMF’s readiness to continue supporting Pakistan’s stabilisation and growth agenda.
The IMF’s next review on September 25 will evaluate Pakistan’s performance for the March–June quarter, with the potential release of a $1 billion tranche under the EFF.
In a separate engagement, PM Shehbaz praised Ajay Banga’s leadership in transforming the World Bank into a faster and more effective development partner. He highlighted reforms in resource mobilisation, energy restructuring, privatisation, and climate resilience, noting that these steps have restored investor confidence and steered Pakistan toward stabilisation.
Banga reaffirmed the Bank’s support under the new 2026–2035 Country Partnership Framework (CPF), which pledges $40 billion for Pakistan. Both sides agreed to strengthen collaboration in advancing reforms, climate resilience, and inclusive growth.
Since 1950, Pakistan has received over $48 billion in assistance from the World Bank, with 54 active projects worth $15.7 billion in its current portfolio. The latest CPF represents the Bank’s largest long-term commitment to Pakistan’s development.
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