PM Shehbaz Confirms Final Stages of IMF Agreement Approval
Pakistan has met all stringent conditions set by the International Monetary Fund.
Prime Minister Shehbaz Sharif has announced that the agreement with the International Monetary Fund (IMF) is nearing final approval, as Pakistan has complied with all of the fund’s conditions, many of which are quite stringent.
“There is an IMF board meeting scheduled for tomorrow. We have met all their conditions, which were very challenging,” the Prime Minister stated to reporters following his attendance at the 79th session of the United Nations General Assembly (UNGA) on Tuesday.
Prime Minister Shehbaz Sharif Arrives in New York for UN General Assembly
In a recent address, Prime Minister Shehbaz Sharif expressed deep gratitude to China, Saudi Arabia, and the United Arab Emirates, stating that “without their support, this achievement would not have been possible.” He highlighted that some of the conditions set by the International Monetary Fund (IMF) were linked to China, which has consistently stood by Pakistan in times of need. The Prime Minister is scheduled to meet with IMF Chief Kristalina Georgieva soon, with expectations that the IMF executive board will approve Pakistan’s loan during its meeting today.
The Prime Minister acknowledged the economic challenges faced by the nation and emphasized that, through collaborative efforts among the government and various institutions, these challenges are being addressed. “Economic indicators are gradually improving with hard work, day and night,” he remarked.
In addition, PM Shehbaz congratulated Turkish President Recep Tayyip Erdogan for his passionate speech at the 79th session of the United Nations General Assembly, where he focused on the Palestinian crisis. The Prime Minister noted that Erdogan’s heartfelt address resonated with all attendees, highlighting the plight of Gaza amidst ongoing conflict. Erdogan condemned Israel’s military actions and criticized Western nations for their support, stating, “Along with children in Gaza, the United Nations system is also dying.”
Furthermore, PM Shehbaz held a meeting with Kuwait’s Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Mubarak Al-Sabah, expressing interest in enhancing economic investments through the Special Investment Facilitation Cell. The leaders discussed various aspects of bilateral relations, including political, economic, and defense cooperation, and reiterated their commitment to collaborating on regional and global issues of mutual concern.
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