Pakistan PM Urges IMF to Consider Flood Impact Amid Economic Progress

Pakistan PM Shehbaz Sharif highlights steady IMF commitment compliance, urges flood impact consideration. Discusses progress with IMF head at UN assembly. Country nearing economic targets despite monsoon damage. PM appreciates IMF, World Bank support, envisioning sustained economic growth and climate resilience under reforms with a new partnership framework.

Pakistan's Prime Minister, Shehbaz Sharif, has urged the International Monetary Fund (IMF) to consider the economic impacts of recent floods in their upcoming review. Speaking at the UN General Assembly, Sharif noted the country's steady progress in meeting the IMF programme commitments despite natural setbacks.

According to a Press Information Department statement, Pakistan remains on track to fulfill all seven Quantitative Performance Criteria under the $7 billion Extended Fund Facility, scheduled for review on September 25. The discussion with IMF Managing Director Kristalina Georgieva highlighted Pakistan's projected growth and extensive rural damage due to unprecedented monsoon rains.

Georgieva expressed sympathy for the flood-affected regions and praised Pakistan's commitment to macroeconomic policies. Additionally, Shehbaz thanked the IMF and World Bank for their support, citing substantive financial arrangements and a comprehensive reform agenda as crucial to Pakistan's recovery and resilience efforts.

(With inputs from agencies.)