PM Shehbaz urges IMF to factor flood impact

Pakistan Prime Minister Shehbaz Sharif on Wednesday said that the country was steadily meeting its International Monetary Fund (IMF) programme commitments but urged the lender to account for the impact of recent floods in its upcoming review, Dawn reported.

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He made these remarks during a meeting with IMF Managing Director Kristalina Georgieva on the sidelines of the 80th Session of the United Nations General Assembly in New York. According to Dawn, Pakistan is on track to meet all seven Quantitative Performance Criteria (QPC) ahead of the September 25 review of the $7 billion Extended Fund Facility (EFF), approved in May this year.

A statement from the Press Information Department (PID) following the meeting noted: “While emphasising that Pakistan was making steady progress towards meeting the various targets and commitments under the IMF programme, the prime minister said that the impact of the recent floods on Pakistan’s economy must be factored into the IMF's review.”