ISLAMABAD  -  Pakistan has briefed the International Monetary Fund (IMF) about the government’s efforts towards fiscal consolidation, revenue expansion, energy and SOE reforms.

The Pakistani delegation held a meeting with Jihad Azour, Director MCD at the IMF. While thanking the IMF for its continued support to Pakistan, especially for the recently approved US$7 billion Extended Fund Facility, the delegation outlined the government’s efforts towards fiscal consolidation, revenue expansion, energy and SOE reforms, aimed at transitioning Pakistan from stabilization to growth. Congratulating Pakistan on the successful start of the Fund programme, Jihad Azour emphasized the importance of staying the course on reforms.

Meanwhile, the Pakistan delegation held a meeting with the representatives of Alvarez & Marsal Sovereign Advisory Services, comprising Dr Reza Baqir, Managing Director and Global Practice Leader, Peter Briggs, Division Executive for Sovereign Advisory Services, and Thibaud Fourcade. Alvarez & Marsal team congratulated Pakistan on the successful conclusion of the Extended Fund Facility (EFF) with IMF and discussed various approaches through which Pakistan could access the international capital markets and external creditors. The team outlined the steps needed for the country to chart an accelerated path to capital markets following a well-sequenced strategy. Muhammad Aurangzeb, Federal Minister for Finance & Revenue, is leading Pakistan delegation to the Annual Meetings of the World Bank Group and International Monetary Fund (IMF), being held in Washington DC from October 21 to 26, 2024. Other delegates include Imdad Ullah Bosal, Finance Secretary, Dr. Kazim Niaz, Secretary Economic Affairs, and Jameel Ahmad, Governor, State Bank of Pakistan.