Prime Minister Shehbaz Sharif held high-level meetings with IMF Managing Director Kristalina Georgieva and World Bank President Ajay Banga on the sidelines of the United Nations General Assembly session.

Shehbaz highlighted Pakistan’s reform-driven recovery and calling for global institutions to consider the economic toll of recent floods.

Meeting with IMF MD Georgieva

During his discussion with the IMF chief, Prime Minister Shehbaz Sharif appreciated the long-standing partnership between Pakistan and the IMF, noting that it had strengthened further under Ms Georgieva’s leadership.

He underlined that thanks to sustainable reforms, Pakistan’s economy is now moving steadily toward recovery, with progress being made across various IMF program targets.

The PM specifically urged the IMF to factor in the devastating impact of recent floods on Pakistan’s economy in its upcoming review.

Georgieva expressed sympathy for the flood victims and stressed the importance of properly estimating losses to ensure effective rehabilitation. She also praised Shehbaz Sharif’s commitment to sound macroeconomic policies and reiterated the IMF’s continued support for Pakistan.

Shehbaz's meeting with World Bank president

In a separate meeting, Prime Minister Shehbaz Sharif engaged with World Bank President Ajay Banga to discuss Pakistan’s reform agenda and development priorities.

He noted that the government’s comprehensive reforms had put Pakistan on a path toward macroeconomic stability, restored investor confidence, and opened new avenues for sustainable development.

shehbaz world bank

He expressed gratitude to the World Bank for its support during the COVID-19 crisis and the 2022 floods, and also acknowledged Ajay Banga’s leadership in transforming the World Bank into a more effective development partner.

Reforms and future cooperation

Briefing the World Bank President, Shehbaz outlined key reforms in the energy sector, privatization, and climate resilience. He particularly welcomed the World Bank’s new Country Partnership Framework, under which $40 billion will be provided to Pakistan, and reaffirmed his government’s commitment to working in close coordination with provincial governments.

Ajay Banga, in turn, lauded Pakistan’s reform measures and reaffirmed the World Bank’s commitment to continue its cooperation, particularly in addressing the threats posed by climate change and supporting Pakistan’s development goals.