ISLAMABAD: In meetings with the Adviser to the Prime Minister on Finance and Revenue, top officials from the World Bank and the International Monetary Fund assured Pakistan of economic support, the Ministry of Finance said in a statement released on Monday.
This was after Dr. Abdul Hafeez Shaikh, who is on a visit to the United States, apprised the WB and the IMF of the institutional reforms and steps taken to stabilize the economy in the past year.
During a meeting with WB’s Managing Director Axel Van Trotsenburg, Shaikh also highlighted the government’s role in expediting the rollout of WB projects and actions taken in this regard.
Trotsenburg, for his part, said that Pakistan was among the WB’s largest partners and beneficiaries of the International Development Association.
‘‘He said that Pakistan should make optimal use of available World Bank resources and assured the Bank’s continued support to Pakistan’s development effort,’’ excerpts from the statement read.
In a separate meeting with IMF Managing Director Kristalina Georgieva and other senior officials, Shaikh said that Pakistan’s “economy was on its path of stabilization.”
‘‘He stated that the first quarter results indicated that Pakistan’s economy was on its path to stabilization. The reforms initiated under the IMF program were demonstrating positive outcomes,’’ the statement read.
Georgieva “appreciated the commitment of the government” before assuring Pakistan of the IMF’s “continued support for the reform process.”
IMF representatives are scheduled to visit Pakistan by the end of this month for the first review of a $6 billion bailout package, before releasing the second tranche of the loan.
Islamabad signed the deal in July this year, with one of the conditions being that the IMF would review its performance on a quarterly basis over a period of 39 months.
World Bank, IMF assure Pakistan of economic support



