KARACHI: Prime Minister Shehbaz Sharif this week met the heads of the International Monetary Fund (IMF) and the World Bank on the sidelines of the 80th United Nations General Assembly in New York, where discussions focused on Pakistan’s economic reform program, long-term development agenda and recovery plan from recent floods, the premier’s office said on Wednesday.
The meetings build on Pakistan’s engagement with both institutions: the World Bank’s Country Partnership Framework (CPF) for 2026–2035, under which the Bank has committed $40 billion in financing, and the IMF’s $3 billion Stand By Arrangement, which has been concluded, and the ongoing $7 billion Extended Fund Facility (EFF) and $1.4 billion Resilience & Sustainability Facility (RSF).
Sharif briefed World Bank Group President Ajay Banga on reforms covering resource mobilization, energy sector restructuring, privatization and climate measures. His office said these policies had steered the economy toward stabilization, restored investor confidence and promoted inclusive growth.
“President World Bank appreciated the reform measures being undertaken by Pakistan and reaffirmed the Bank’s commitment to Pakistan’s development agenda,” Sharif’s office in Islamabad said in a statement.
“He emphasized the Bank’s readiness to extend continued support for advancing economic reforms and undertaking long-term initiatives on climate resilience under the new CPF.”
Sharif also praised Banga’s leadership in reshaping the World Bank into a faster and more effective development partner, highlighting its response during the COVID-19 pandemic and devastating 2022 floods in Pakistan that killed 1,700 people and caused over $30 billion in economic losses. Both sides reaffirmed their resolve to strengthen cooperation under the CPF.
Pakistan has received over $48.3 billion in World Bank assistance since joining the institution in 1950. Its current portfolio includes 54 projects with commitments totaling $15.7 billion.
In a separate meeting, Sharif thanked IMF Managing Director Kristalina Georgieva for what he described as the Fund’s longstanding partnership, citing its timely support under multiple facilities.
Pakistan Prime Minister Shehbaz Sharif meets IMF Managing Director Kristalina Georgieva on the sidelines of 80th Session of UNGA in New York on September 24, 2025.(Handout/PMO)
While emphasizing Pakistan’s progress toward IMF program targets, he stressed that “the impact of the recent floods on Pakistan’s economy must be factored into the IMF’s review.”
According to the Prime Minister’s Office, Georgieva “commended the Prime Minister’s commitment to pursuing sound macro-economic policies and reiterated the IMF’s continued support as Pakistan advances the necessary economic reforms to ensure sustainable long term economic growth.”
The IMF chief also expressed sympathy for flood-affected communities and underscored the importance of damage assessments to underpin recovery priorities.
