Prime Minister Shehbaz Sharif, heading a Pakistani delegation, met with International Monetary Fund (IMF) Managing Director Kristalina Georgieva on the sidelines of the United Nations General Assembly (UNGA) session in New York. The meeting centered on enhancing economic collaboration and securing IMF support for Pakistan’s economic recovery.
During the discussion, Georgieva reiterated the IMF’s backing of Pakistan’s efforts to stabilize its economy, stressing the importance of maintaining macroeconomic stability while fostering inclusive and sustainable growth. She highlighted the critical role of the IMF’s 37-month, $7 billion Extended Fund Facility (EFF) in Pakistan’s economic recovery.
After the meeting, Georgieva shared on her official X account that she had a “productive meeting” with Prime Minister Sharif. They discussed Pakistan’s recently approved loan program, which will aid in economic recovery and poverty reduction, while also supporting reforms to expand the tax base, generate jobs, and encourage inclusive growth.
Prime Minister Sharif praised the IMF for its collaboration in securing a successful staff-level agreement on the EFF. He emphasized Pakistan’s commitment to structural reforms and private sector development. He also expressed gratitude for the IMF’s technical support and capacity-building initiatives, which have helped improve institutional strength and economic management in Pakistan.
The two sides also touched on the urgent need to secure climate adaptation financing, with Pakistan requesting between $1 to $1.5 billion to address the growing impacts of climate change. Though no formal agreement was reached, both parties agreed to revisit the issue when Pakistan’s finance minister meets with the IMF during the World Bank and IMF Annual Meetings next month.
Both leaders reaffirmed their commitment to deepening cooperation to promote economic stability and growth in Pakistan.
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