Secretary Finance attends IMF, World Bank spring meetings in USA: Finance Division clarifies

April 11, 2023 (MLN): The Finance Division on Monday rebutted a news item circulating on various media channels claiming that the Secretary Finance, Mr. Hamed Yaqoob Sheikh, has gone to the USA on leave.

"It is clarified that the Secretary Finance has gone to the USA to attend spring meetings of the IMF and the World Bank and to represent the Finance Minister," the statement read. 

The statement was issued by Finance Division in order to put an end to speculations and rumors surrounding Mr. Sheikh's absence from the country.

To note, WB and IMF are gearing up for their annual spring meeting this week, aiming to achieve a range of reforms and fundraising targets. However, concerns over high inflation, geopolitical tensions, and financial stability are likely to take center stage.

IMF Managing Director Kristalina Georgieva recently remarked on the weak historical growth rates in the short and medium term. Global growth is expected to dip below 3% this year and remain at that level for the next five years, which is the lowest medium-term forecast since the 1990s.

Earlier on Saturday, Federal Minister Ishaq Dar also clarified that he will attend the said meeting virtually.

He further expressed hope that the staff-level agreement with the IMF will be finalized soon.

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