NEW YORK – Prime Minister Shehbaz Sharif held high-level meetings with International Monetary Fund (IMF) Managing Director Kristalina Georgieva and World Bank President Ajay Banga on the sidelines of the 80th United Nations General Assembly in New York, seeking critical support for Pakistan’s economy amid devastating floods.
During talks with Georgieva, Shehbaz praised IMF’s lifeline support through Stand-By Arrangement, Extended Fund Facility (EFF), and Resilience and Sustainability Facility. He said that Islamabad’s structural reforms were stabilising the economy but stressed that the catastrophic impact of recent floods must be considered in the Fund’s upcoming review.
An IMF mission is scheduled to visit Pakistan on September 25 for second semi-annual EFF review, which will assess economic performance for the March and June 2025 quarters. A successful review would unlock a $1 billion tranche, adding to more than $2 billion already disbursed. Georgieva expressed sympathy for flood-affected communities and reaffirmed the IMF’s commitment to Pakistan’s economic reform program.
In separate engagement, the premier met World Bank President Ajay Banga and lauded his leadership in transforming the Bank into a faster and more effective development partner. The premier outlined Pakistan’s wide-ranging reform agenda including revenue mobilisation, energy sector reforms, privatisation, and climate resilience, stressing that these steps had restored investor confidence and set the country on the path to recovery.
Sharif also welcomed World Bank’s new Country Partnership Framework (2026–2035), which commits a record $40 billion to Pakistan, and pledged its effective implementation in close coordination with provincial governments.
Banga praised Pakistan’s reform measures and reiterated the Bank’s unwavering support for the country’s long-term development objectives.
