ISLAMABAD    -     Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh held back to back meeting with the managing directors of the World Bank (WB) and the International Monitory Fund (IMF) to apprise them of the institutional reforms and steps undertaken during the last year to put the economy on the path to progress and stability.

In the first meeting, Dr Abdul Hafeez Shaikh and the Pakistan delegation held a meeting with Mr Axel Van Trotsenburg, Managing Director of the World Bank, and senior officials. The adviser congratulated the new MD on his appointment and appreciated the support being provided by the World Bank to Pakistan. He highlighted the government’s focus on expediting speedy rollout of the World Bank pipeline of projects and actions being taken in this regard.

Trotsenburg mentioned that Pakistan was among the World Bank’s largest partners and beneficiaries of IDA. He said that Pakistan should make optimal use of available World Bank resources and assured the Bank’s continued support to Pakistan’s development effort.

In a separate meeting, Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh and the Pakistan delegation had an extensive session with the IMF Managing Director Ms Krsitalina Georgieva and other senior Fund officials.

Dr Shaikh congratulated the new MD on her appointment and gave an overview of the implementation of the IMF program in Pakistan. He stated that the first quarter results indicated that Pakistan’s economy was on its path to stabilization. The reforms initiated under the IMF program were demonstrating positive outcomes.

Ms Georgieva stated that the IMF recognized that tough decisions were being made and implemented to stabilize Pakistan’s economy. She appreciated the commitment of the government and assured continued support of the IMF for the reform process.