NEW YORK: Prime Minister Shehbaz Sharif on Wednesday urged the International Monetary Fund (IMF) that the impact of the recent flash floods on Pakistan’s economy must be factored into the IMF’s upcoming review.
An IMF team is scheduled to visit Pakistan on September 25, 2025, for the second semi-annual review of the $7 billion Extended Fund Facility (EFF).
According to reports, the prime minister met with International Monetary Fund (IMF) Managing Director Kristalina Georgieva during the 80th Session of the United Nations General Assembly.
The meeting focused on Pakistan’s progress in meeting the targets under its IMF program and the economic challenges posed by recent floods.
PM Sharif said that Pakistan was making steady progress toward meeting various targets and commitments under the IMF’s loan program. He appreciated the IMF’s longstanding constructive partnership with Pakistan, which had further strengthened under the leadership of the current chief.
“Today, with deep-rooted structural reforms, Pakistan’s economy is showing positive signs of stabilization and moving toward recovery,” Prime Minister Shehbaz said. He also appreciated the IMF’s support in this regard, which had been instrumental in guiding the government’s economic reform efforts.
The prime minister acknowledged the IMF’s timely support through various instruments, including the Stand-By Arrangement for $3 billion in FY2024, followed by the Extended Fund Facility (EFF) of $7 billion and the Resilience and Sustainability Facility (RSF) of $1.4 billion.
The IMF managing director expressed her sympathy to all those affected by the floods and stressed the importance of conducting a damage assessment to guide recovery priorities.
The IMF chief commended the prime minister’s commitment to pursuing sound macroeconomic policies and reiterated the IMF’s continued support as Pakistan advances the necessary economic reforms to ensure sustainable long-term economic growth.
