PM Shehbaz meets IMF chief as Pakistan seeks continued support for economic reforms

Prime Minister Shehbaz Sharif met International Monetary Fund (IMF) Managing Director Kristalina Georgieva in New York on Wednesday, reaffirming Pakistan’s commitment to implementing the reform programme supported by the global lender.

The meeting was held on the sidelines of the 81st session of the United Nations General Assembly, according to the Prime Minister’s Office.

Shehbaz appreciated the IMF’s continued support for Pakistan’s economy and praised Georgieva’s role in strengthening the constructive partnership between Islamabad and the Fund.

The prime minister reiterated the government’s commitment to economic reforms, saying Pakistan would maintain the pace of reforms and advance structural changes to consolidate economic stability and lay the foundations for sustainable and inclusive growth.

He said Pakistan was moving from economic stabilisation towards recovery despite regional conflicts and external inflationary pressures, attributing the progress to prudent fiscal and monetary policies.

Shehbaz highlighted improvements in fiscal discipline, external financial reserves and investor confidence. He cited reforms to the national tariff regime, measures to increase domestic revenue and progress on privatisation as examples of the government’s economic reform efforts.

He also stressed the government’s commitment to protecting vulnerable segments of society alongside the continuation of economic reforms.

Georgieva appreciated Pakistan’s performance under the IMF programme and the government’s efforts to strengthen economic stability, saying these efforts were producing tangible results.

The two sides also discussed Pakistan’s upcoming IMF programme review, continued cooperation on reforms, strengthening the economy and promoting sustainable economic growth.

Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, Adviser to the Prime Minister on Privatisation Muhammad Ali, Special Assistant to the Prime Minister Tariq Fatemi and senior officials also attended the meeting.

Aurangzeb discusses financing for PIA, refineries and Reko Diq

Separately, Finance Minister Muhammad Aurangzeb met US Export-Import Bank Chairman John Jovanovic in New York and discussed possible financing for aircraft purchases for Pakistan International Airlines (PIA), refinery upgrades and the Reko Diq mining project.

Aurangzeb urged the US Export-Import Bank to provide financing support for the acquisition of Boeing 787 Dreamliners and engines for PIA.

The Pakistani side also highlighted the need for spare parts to restore grounded Boeing 777 aircraft and discussed possible financing for pre-delivery payments for new aircraft.

The meeting also considered refinery upgrades as a potential area for support from the US Export-Import Bank.

Aurangzeb highlighted the Reko Diq project’s importance for Pakistan’s future exports and briefed the US lender on the potential cost of delays to the project.

The finance minister also appreciated the US Export-Import Bank’s continued support and cooperation.