Ishaq Dar leaves for US to attend IMF, WB meetings

ISLAMABAD    -    Finance Minister Ishaq Dar has left for the United States on Tuesday to attend the annual meetings of the International Monetary Fund (IMF) and the World Bank. Annual meetings of the IMF and World Bank would continue from October 10 to 16 in United States. Pakistani delegation would be headed by the finance minister and it would also comprise State Bank governor and Finance secretary. According to the officials, finance minister would brief the international lenders on the current economic situation of the country especially after the devastating floods in different parts of the county. The government would brief about its financial needs of the floods. The World Bank had also assured to allocate $2 billion funds from existing World Bank financed projects for emergency operations in flood affected areas to support Pakistan. Later, Pakistan and IMF would hold talks for the ninth economic review under extended fund facility by the end of current month (October). The government would brief the IMF on the economic situation of the first quarter (July to September) of the current fiscal year. An official hinted that the government might request the Fund to revise the economic targets after the floods, which has changed the situation as the country faced mammoth losses. It is projected by the international financial institutions and central bank that Pakistan’s GDP growth would decline to 2 percent and inflation would remain on higher side after the devastating floods in different parts of the county.

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