Prime Minister Shehbaz Sharif held a meeting with a delegation of the International Monetary Fund (IMF) and reaffirmed his government’s commitment to accelerate institutional reforms along with macroeconomic stabilization, stating that Pakistan was now firmly on the road to economic development.
The meeting with the IMF delegation, led by the director of the Fund of the Department of Middle East and Central Asia, Jihad Azourat, the office of the Prime Minister, took place when Pakistan prepares to present the budget for fiscal year 2025-26 on June 2.
“Pakistan is now moving from economic stability towards sustainable growth,” said the prime minister, emphasizing that the main priority of the government was not only to maintain macroeconomic gains but to issue comprehensive institutional reforms, crucial for long -term resistance.
The meeting focused on discussions related to the implementation and progress of the IMF program ongoing in Pakistan. Both parties expressed their satisfaction with the economic reforms made by the Government and its accumulated positive results.
The IMF delegation recognized progress under the reform agenda and ensured continuous support to help Pakistan’s efforts for economic stability and inclusive growth.
The meeting was also attended by key members of the Cabinet, including finance minister, Muhammad Aurengzeb, Minister of Planning, Development and Reforms, Ahsan Iqbal and senior officials.
The IMF at the beginning of this month approved the immediate disbursement of approximately $ 1 billion to Pakistan under the installation of extended funds (EFF) in progress and allowed an additional agreement for the resilience and sustainability center (RSF) of $ 1.4 billion.
In a statement, the IMF said that its Executive Board completed the first review of the Pakistan Economic Reform Program supported by the EFF Agreement.
“This decision allows an immediate disbursement of around $ 1 billion (SDR or special drawing rights 760 million), which carries the total disbursements under the agreement to approximately $ 2.1BN (SDR 1.52BN). In addition, the IMF Executive Board approved the application of the authorities for an agreement under the RSF, with access to approximately $ 1.4BN (SDR 1BN),” he said.
He pointed out that Pakistan’s political efforts had already delivered a “significant progress” to stabilize the economy and the reconstruction of trust, in the midst of a challenging global environment.
“The fiscal yield has been strong, with a main surplus of two percent of the gross domestic product reached in the first half of fiscal year 2015, keeping Pakistan on the way to meet the final objective of the FY-FY25 of 2.1pc of GDP Pakista is reduced by a total of 1100. June 2025. Gross reserves were $ 10.3 billion at the end of April, compared to $ 9.4 billion in August 2024, and it is projected that they will reach $ 13.9 billion at the end of June 2025 and continue to be rebuilt through the average term. ”
Meanwhile, he said that the RSF would support the efforts of the authorities to reduce vulnerability to natural disasters and develop economic and climatic resilience.
