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Shehbaz Sharif to meet IMF-World Bank leaders today
UNITED NATIONS: Prime Minister Shehbaz Sharif is set to meet the heads of the International Monetary Fund (IMF) and the World Bank today (Wednesday), the same day the IMF board is scheduled to take up Pakistan’s request for an extended loan facility.
In recent statements, PM Shehbaz has expressed optimism today’s talks will pave the way for the finalisation of a new IMF package, emphasising the critical role of Pakistan’s friendly nations in facilitating the IMF’s decision to schedule the board meeting.
He is expected to meet IMF chief Kristalina Georgieva and World Bank President Ajay Banga today on the sidelines of the United Nations General Assembly.
IMF Director of Strategic Communications Julie Kozack had informed reporters in Washington earlier this month that the Fund had scheduled the board meeting after receiving assurances that “Pakistan is obtaining necessary financing from its development partners”.
Pakistani diplomats handling financial matters have dispelled rumours that the loan deal might be at risk, highlighting the importance of these high-level meetings.
The $7 billion loan agreement, reached in July, awaits formal approval from the IMF’s executive board.
One of the IMF’s key preconditions was for Pakistan to secure bilateral financing to qualify for the new loan package.
Earlier, the premier arrived in New York on Monday afternoon to attend the UN General Assembly
According to PM Office, he met with Maldives President Dr Mohamed Muizzu on Tuesday on the sidelines of the UNGA session. PM Shehbaz reaffirmed Pakistan’s commitment to enhancing cooperation with the Maldives in the fields of trade, tourism, education, investment and climate change.
Over the next few days, he will engage in bilateral discussions with various world leaders, including British Prime Minister Keir Starmer.
While several interactions with US President Joe Biden are expected, a formal one-on-one meeting between the two leaders is not on the agenda.
PM Shehbaz is also expected to hold an eagerly anticipated meeting with Bangladesh’s Chief Advisor Dr Muhammad Yunus today.
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