IMF, WB, IsDB assure Pakistan of continued support

October 14, 2022: The International Monetary Fund (IMF), the World Bank(WB) and Islamic Development Bank (IsDB) have assured of their continued support to Pakistan at a time when the country was facing socioeconomic challenges owing to recent floods that have damaged economy badly.

The assurances were made during the separate meetings of Federal Minister for Finance and Revenue, Mohammad Ishaq Dar with IMF Deputy Managing Director, Ms. Antoinette Sayeh; President World Bank, David Malpass and IsDB President, Dr. Muhammad Sulaiman Al Jasser.

The IMF Deputy Managing Director appreciated the government’s policies and assured of IMF’s continued support to Pakistan, according to press statement received here Friday.

Earlier, the finance minister apprised her of the damages caused by the unprecedented floods in Pakistan. He shared the GoP’s vision for stabilizing the economy and carrying out sustainable and resilient recovery.

Dar in his meeting with President World Bank, David Malpass, thanked the Bank for its continued support in the socioeconomic development of Pakistan and for its assistance for rescue and relief operations in the aftermath of the unprecedented devastating floods.

President Malpass assured that the Bank would continue to work with Pakistan government to help it overcome its socio-economic challenges due to the floods, the statement added.

The Finance Minister in a separate meeting with, Vice President WB’s South Asia Region, Martin Raiser thanked him for undertaking a visit to Pakistan to see firsthand the devastation caused by the floods. The visit helped in projecting the tremendous damages caused by the devastating floods.

The Vice President assured that the Bank would continue to support Pakistan in overcoming the economic difficulties that the country was facing.

The Minister aslo met with President of the Islamic Development Bank, Dr. Muhammad Sulaiman Al Jasser and thanked him for bank’s continued engagement with Pakistan. He appreciated that Pakistan and the Bank had remained trusted partners for decades.

President Al Jasser appreciated the measures being taken by Pakistan government to stabilize the economy while providing relief to the flood victims.

The Finance Minister in his meeting with the leadership of Deutsche Bank and J.P. Morgan elaborated upon the government’s vision to stabilize the economy, while also providing relief to the victims of the flood. He assured that his government was committed to completing the IMF’s programme.

The Pakistani delegation visiting US also met with rating agencies and participated in several events being held during the Annual Meetings.

The delegation also engaged at the Pakistan House with a diverse group of Pakistani professionals including leading businessmen, tech entrepreneurs and others.

The Finance Minister is leading Pakistan’s delegation in the IMF / World Bank’s 2022 Annual meetings being held in Washington DC.

Other delegates include Federal Minister for Economic Affairs, Sardar Ayaz Sadiq; Minister of State for Finance and Revenue, Dr. Aisha Ghaus Pasha; Governor State Bank of Pakistan, Jameel Ahmed; Finance Secretary, Hamed Yaqoob Sheikh; Secretary Economic Affairs Division, Dr. Kazim Niaz and Additional Secretary, Finance Division, Ali Tahir.

APP