ISLAMABAD, May 23 – Prime Minister Shehbaz Sharif met with a high-level delegation from the International Monetary Fund (IMF) on Thursday to review the country’s economic reform agenda, just days before Pakistan is set to unveil its federal budget for FY2025-26.
The meeting, held in Islamabad, was led by Jihad Azour, Director of the IMF’s Middle East and Central Asia Department, and attended by key government officials including Finance Minister Muhammad Aurangzeb, Minister for Economic Affairs Ahad Khan Cheema, Secretary Finance Imdadullah Bosal, and FBR Chairman Rashid Mahmood Langrial.
According to a statement from the Prime Minister’s Office (PMO), both sides expressed satisfaction over the progress made under the IMF-supported programme. PM Shehbaz highlighted that Pakistan is moving from “economic stability to development” and reaffirmed his government’s commitment to accelerating structural and institutional reforms.
The IMF delegation, in turn, conveyed its continued support for Pakistan’s reform path and economic development.
Pakistan’s current Extended Fund Facility (EFF) with the IMF spans 37 months and is valued at around USD 7 billion (SDR 5.32 billion). A staff-level agreement for the programme was reached in July 2024 and subsequently approved by the IMF Executive Board in late September.
In March this year, Pakistan and the IMF also reached a deal on a $1.3 billion arrangement and completed the first review under the EFF.
The ongoing IMF programme is widely viewed as critical for macroeconomic stability and a key source of policy credibility, helping shore up foreign exchange reserves while guiding fiscal and structural reforms.
Pakistan will present its federal budget for FY26 on June 2, with expectations that the government will continue on the path of fiscal consolidation and maintain alignment with IMF targets.
