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Tuesday, May 30, 2023

Pakistani Finance Minister Meets with IMF Delegation in Geneva

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A delegation from the International Monetary Fund (IMF) will meet Pakistan’s finance minister on the sidelines of a meeting in Geneva as the country struggles to restart its relief program. The IMF has yet to approve her $1.1 billion outlay originally scheduled for last November, leaving Pakistan with just enough foreign exchange reserves to cover a month’s worth of imports.”The IMF delegation will meet with Finance Minister Dahl on the sidelines of the Geneva meeting to discuss outstanding issues and ways forward,” an IMF spokesman told Reuters.

Local media Dawn said an IMF spokeswoman said her IMF Executive Director Kristalina Georgieva had a “constructive meeting” with Pakistani Prime Minister Shahbaz Sharif on Friday.” MD once again extended its condolences to those directly affected by the floods and supported Pakistan’s efforts towards a more resilient recovery,” a spokesperson told Dawn. The Geneva conference, co-hosted by Sharif and UN Secretary-General António Guterres, will try to mobilize international support for the country after last year’s devastating floods.
Floods killed at least 1,700 people and caused billions of dollars in damage to critical infrastructure.

About 240,000 people remain displaced in southern Sindh, and about 8 million “may have been exposed to or lived near flooded areas,” according to a United Nations report released in December. A plan to present timelines and funding for the recovery effort was a sticking point in the negotiations to clarify the 9th Review, which will release IMF and other international resources. Dahl has been critical of the IMF in recent months, and in 2019 he said the IMF acted “abnormally” in a deal with Pakistan included in a $7 billion bailout.

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