PM Shehbaz Sharif Meets IMF and World Bank Chiefs at UNGA to Discuss Pakistan’s Economic Reforms
NEW YORK: On the sidelines of the 80th United Nations General Assembly session, Prime Minister Shehbaz Sharif held separate meetings with IMF Managing Director Kristalina Georgieva and World Bank President Ajay Banga on Wednesday, focusing on Pakistan’s ongoing economic reforms and future cooperation with both institutions.
During his discussion with Kristalina Georgieva, Sharif praised the IMF’s long-standing partnership with Pakistan, highlighting the timely support through programs such as the $3 billion Stand-By Arrangement (2024), $7 billion Extended Fund Facility (EFF), and $1.4 billion Resilience & Sustainability Facility (RSF).
Sharif said, “Pakistan’s economy, strengthened by deep-rooted structural reforms, is showing signs of stabilization and is on the path to recovery.” He emphasized progress in meeting IMF program targets, while urging consideration of the economic impact of recent floods during the upcoming review.
An IMF team will visit Pakistan on September 25, 2025, to conduct the second semi-annual review of the EFF, covering the March–June 2025 quarters. A successful review could unlock $1 billion in IMF funding, taking total disbursements under the program to over $2 billion.
Georgieva expressed sympathy for flood victims and underscored the importance of a detailed damage assessment to guide recovery, while reaffirming the IMF’s continued support for Pakistan’s reforms.
Meeting with World Bank President Ajay Banga
Sharif also met Ajay Banga, commending the World Bank’s transformative leadership and efforts to become a faster, more efficient development partner. He highlighted Pakistan’s reform agenda, including energy sector improvements, privatization, climate change initiatives, and resource mobilization.
“These reforms are stabilizing Pakistan’s macroeconomy, restoring investor confidence, and promoting sustainable growth,” Sharif said.
Banga welcomed Pakistan’s efforts and reaffirmed the World Bank’s commitment to supporting the country’s development priorities. The leaders also discussed the World Bank’s new Country Partnership Framework (2026–2035), which includes a historic $40 billion commitment for Pakistan.
Sharif stressed the importance of implementing the framework effectively in collaboration with provincial governments, calling it a key step toward Pakistan’s long-term economic growth.
