Pakistan calls for greater support from IMF, WB

Pakistan Finance Minister Senator Ishaq Dar on Sunday called for greater policy support from the International Monetary Fund (IMF) among other multilateral donors in Washington DC, US.

It may be noted here that Dar is presently leading Pakistan’s delegation in the IMF-World Bank’s 2022 annual meetings being held in Washington DC.

Other delegates include Sardar Ayaz Sadiq, federal minister for economic affairs, Dr Aisha Ghaus Pasha, minister of state for finance & revenue, Jameel Ahmed, governor of State Bank of Pakistan, Hamed Yaqoob Sheikh, finance secretary, Dr Kazim Niaz, secretary economic affairs division and Ali Tahir, additional secretary, Finance Division.

The statement came as part of a press release following a high-level meeting between IMF’s Managing Director Kristalina Georgieva and representatives from the Middle East, North Africa, Afghanistan, and Pakistan (MENAP).

According to the statement, Georgieva during the meeting highlighted challenges facing regional economies including climate change – making special note of Pakistan’s damaging floods.

She expressed her deep sympathies with Pakistan and assured the country of the IMF’s full support.

Thanking the MD for expressing her sympathies, Dar took the opportunity to reiterate his commitment to complete the fund program despite challenges.

The finance minister also highlighted the humanitarian catastrophe and losses suffered by the country and called for more policy support for Pakistan considering the magnitude of the devastation faced.

Welcoming the new IMF instruments like Resilience and Sustainability Trust (RST) and Food Shock Window under Rapid Financing Instrument (RFI) to support countries struggling with various challenges, Dar called for greater policy support from the IMF and other multilateral donors.