IMF chief expresses satisfaction over Pakistan's economic reform programme

The Express Tribune reported, citing Arab News, that IMF Managing Director Kristalina Georgieva has welcomed the progress of Pakistan's reform agenda under Prime Minister Shehbaz Sharif. She linked the reforms to macroeconomic stability and gains in fiscal discipline, external reserves and investor sentiment. Her remarks also highlighted a new national tariff policy, higher domestic revenues and advances in privatisation.

Georgieva said Pakistan had regained access to global capital markets, and that continued reforms could help lift economic growth and living standards. Her comments came as the IMF opened talks on the fourth review of the $7 billion economic programme and the third review of the $1.4 billion climate resilience programme. If both reviews are completed, around $1.2 billion in financing could follow, including about $1 billion under the main programme and $200 million under the climate facility.

A day earlier, Prime Minister Shehbaz said the IMF raised no serious concerns over the Rs100 per litre targeted fuel subsidy during his meeting with Georgieva at the UN General Assembly in New York. He told The Express Tribune that he had explained the strain on low-income households, and that the subsidy was being delivered through a transparent mechanism. The reviews will assess Pakistan's progress on reforms and commitments under both programmes.