HomeBusinessThe Prime Minister meets with the IMF Director to discuss new loan...

The Prime Minister meets with the IMF Director to discuss new loan projects.

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Islamabad: Prime Minister Shehbaz Sharif and Managing Director of the International Monetary Fund (IMF) held a major informal meeting during the World Economic Forum in Saudi Arabia. It discussed Pakistan’s entry into another loan program.

According to a statement issued by the Prime Minister’s Office, Prime Minister Shehbaz Sharif during the meeting thanked Kristalina Georgieva for supporting Pakistan in receiving a $3 billion Standby Arrangement (SBA) from the IMF last year.

This is Prime Minister Shahbaz Sharif’s first meeting with MDIMF since he was elected Prime Minister for two terms, having previously met during the June 2023 summit of a new global financial agreement in Paris.

The IMF Executive Board meeting is expected to be held tomorrow. That will likely determine the final say under the $1.1 billion SBA. In the meantime, the IMF agreed to prepare for standby last year.

On the occasion, Prime Minister Shehbaz Sharif told the IMF chief that his government is fully committed to getting Pakistan’s economy back on track.

He said he had directed his finance team, led by Finance Minister Muhammad Aurangzeb, to implement reforms. Ensures strict financial discipline and implement wise policies to ensure macroeconomic stability and sustainable economic growth.

Prime Minister Shehbaz Sharif and Kristalina Georgieva also discussed Pakistan’s participation in the IMF program to ensure that the gains made last year are consolidated. and economic growth momentum remains positive.

During the meeting, the IMF chief conveyed his institution’s views on the ongoing projects with Pakistan. Including the review process Meanwhile, Prime Minister Shehbaz Sharif has extended an invitation to MDIMF to visit Pakistan at his convenience.

The Prime Minister also met with the Emir of Kuwait.

According to a statement issued by the Prime Minister’s Office, Prime Minister Shehbaz Sharif met with the Emir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, on the occasion of the special session of the Economic Forum. The world in Riyadh and thank him for Emir’s congratulatory letter on his re-election

Prime Minister Shahbaz Sharif congratulated Sheikh Meshaal Al-Ahmad Al-Jaber Al-Sabah on assuming the position of Emir. and expressed a desire to work with him to transform bilateral relations into a mutually beneficial economic partnership. citizens of both countries

Pakistan and Kuwait signed several memorandums of understanding and agreements in November 2023 to deepen trade and investment cooperation.

At the meeting between the Prime Minister and the Emir of Kuwait In addition to bilateral relations They also discussed the regional situation, especially the Gaza crisis.

According to the said statement Prime Minister Shahbaz Sharif has once again invited the Emir of Kuwait to pay an official visit to Pakistan at the earliest.

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