Islam Abad: Prime Minister Shehbaz Sharif and International Monetary Fund (IMF) Managing Director Kristalina Georgieva had an important informal meeting during the World Economic Forum meeting in Saudi Arabia where Pakistan’s entry into another loan program was discussed.
According to a statement issued by the Prime Minister’s Office, Prime Minister Shehbaz Sharif during the meeting thanked Kristalina Georgieva for her support to Pakistan in obtaining a Stand-by Arrangement (SBA) of US$ 3 billion from the IMF last year.
This was Prime Minister Shahbaz Sharif’s first meeting with MDIMF since he was elected prime minister for two terms, having previously met during the Summit for a New Global Monetary Agreement in Paris in June 2023.
A meeting of the executive board of the IMF is expected tomorrow, which is likely to decide on the final portion of US$1.1 billion under the SBA, when the IMF agreed last year to a contingency arrangement He appreciated the leading role of the Prime Minister.
On this occasion, Prime Minister Shehbaz Sharif told the IMF chief that his government is fully committed to bringing Pakistan’s economy back on track.
He said he has directed his financial team led by Finance Minister Muhammad Aurangzeb to carry out reforms, ensure strict financial discipline and implement prudent policies that ensure macroeconomic stability and sustainable economic growth.
Prime Minister Shehbaz Sharif and Kristalina Georgieva also discussed Pakistan’s entry into another IMF program to ensure that the gains made last year are consolidated and its economic growth momentum is positive
During the meeting, the head of the IMF expressed his institution’s position regarding the ongoing program with Pakistan, including the review process, while Prime Minister Shehbaz Sharif extended an invitation to MDIMF to visit Pakistan at his convenience
The Prime Minister also met the Emir of Kuwait
According to a statement released by the Prime Minister’s Office, Prime Minister Shehbaz Sharif met the Emir of Kuwait Sheikh Meshaal Al-Ahmad Al-Jaber Al-Sabah on the occasion of a special session of the World Economic Forum in Riyadh and thanked him for the Letter congratulate Emir on his re-election.
Prime Minister Shahbaz Sharif congratulated Sheikh Meshaal Al-Ahmad Al-Jaber Al-Sabah on assuming the post of Emir and expressed his desire to work with him to transform the bilateral relationship into an economic partnership that benefits both sides the people of both countries.
Pakistan and Kuwait signed several memorandums of understanding and agreements in November 2023 to deepen cooperation in trade and investment.
In the meeting between the Prime Minister and the Emir of Kuwait, apart from bilateral relations, the regional situation was also discussed, especially the Gaza crisis.
According to the statement, Prime Minister Shahbaz Sharif once again invited the Emir of Kuwait to make an official visit to Pakistan as soon as possible.