NEW YORK/ ISLAMABAD:  Prime Minister Shehbaz Sharif held a meeting with International Monetary Fund (IMF) Managing Director Kristalina Georgieva.

The Prime Minister appreciated the IMF’s longstanding and constructive partnership with Pakistan and acknowledged the Fund’s support through various initiatives.

He noted that the country’s economy is showing positive signs of stability as a result of sustainable reforms and emphasized that Pakistan is moving rapidly towards economic recovery.

The Prime Minister also lauded the IMF’s guidance and cooperation in advancing economic reforms.

Shehbaz Sharif acknowledged the IMF’s timely support under various instruments, including the Stand By Arrangement for USD 3 billion in FY 2024 followed by the Extended Fund Facility (EFF) of USD 7 billion and Resilience and Sustainability Facility (RSF) of USD 1.4 billion.

“Today, with the institution of deep-rooted structural reforms, Pakistan’s economy was showing positive signs of stabilization and was now moving towards recovery,” Prime Minister Shehbaz said and appreciated the IMF’s support in this regard that had been instrumental in guiding the government’s economic reform efforts.

The IMF Managing Director expressed her sympathy to all people affected by the floods and noted the importance of the damage assessment to underpin recovery priorities.

The IMF chief 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.