Pakistan PM Meets IMF, World Bank in New York on Reforms & Recovery

Pakistan Prime Minister Shehbaz Sharif held key meetings with the heads of the International Monetary Fund (IMF) and the World Bank on the sidelines of the 80th United Nations General Assembly (UNGA), focusing on Pakistan’s economic reforms, climate resilience, and flood recovery strategy.

$40 Billion World Bank Partnership Framework

During his meeting with World Bank President Ajay Banga, the Prime Minister discussed the Bank’s upcoming Country Partnership Framework (CPF) 2026–2035, which pledges $40 billion in financing to Pakistan.

Sharif highlighted reforms in:

• Revenue mobilization

• Energy sector restructuring

• Privatization

• Climate change action

According to the Prime Minister’s Office (PMO), these reforms have helped stabilize the economy, rebuild investor confidence, and promote sustainable growth.

Banga praised Pakistan’s efforts and reaffirmed the World Bank’s commitment to supporting Pakistan’s development goals, climate resilience, and long-term economic initiatives.

IMF Program Support

In a separate meeting with IMF Managing Director Kristalina Georgieva, Sharif expressed gratitude for the Fund’s “longstanding partnership” and support through multiple facilities, including the recently concluded $3 billion Stand-By Arrangement, the ongoing $7 billion Extended Fund Facility (EFF), and the $1.4 billion Resilience and Sustainability Facility (RSF).

Sharif stressed that the devastating floods which caused over $30 billion in damages and claimed 1,700 lives in 2022 must be considered in the IMF’s program reviews.

Georgieva commended Sharif’s commitment to sound macroeconomic policies and assured that the IMF would continue to back Pakistan’s economic reform agenda for long-term stability and growth.

Strengthening Global Partnerships

Sharif also praised Banga’s leadership in reshaping the World Bank into a more responsive development partner, particularly during the COVID-19 pandemic and Pakistan’s flood crisis.

Since joining in 1950, Pakistan has received over $48.3 billion in World Bank assistance. The current portfolio includes 54 active projects worth $15.7 billion.

Both institutions reaffirmed their dedication to supporting Pakistan’s reform journey, enhancing climate resilience, and building a stronger, more sustainable economy.

Key Takeaways

• $40 billion World Bank CPF 2026–2035 approved for Pakistan.

• IMF and World Bank reaffirm support for economic reforms and flood recovery.

• Pakistan continues structural reforms in taxation, energy, privatization, and climate policy.

• Global institutions praise Sharif’s commitment to stability and inclusive growth.