Photo: Screenshot/Imran Khan (official) Facebook video
Christine Lagarde, Managing Director of the International Monetary Fund (IMF), who met with Prime Minister Imran Khan in Dubai on Sunday, has reaffirmed the financial institution’s support for Pakistan, which is seeking to shore up its reserves and overall outlook of the economy.
The meeting took place at the World Government Summit hosted by the United Arab Emirates amid reports that the Fund has agreed to extend a $6 billion facility to Pakistan to help the country deal with its depleting foreign exchange reserves.
Islamabad has not yet official confirmed. Pakistani and the IMF teams have had several meetings since Khan took over reigns of the country last year in the backdrop of a dire economic situation, despite years of promising investments into the country. Since then Khan has been able to secure funding from several rab allies including Saudi Arabia and the United Arab Emirates.
Following the meeting, Ms. Lagarde described her meeting with Khan as “good and constructive, ”saying they discussed “recent economic developments and prospects for Pakistan in the context of ongoing discussions toward an IMF-supported program.”
“I reiterated that the IMF stands ready to support Pakistan. I also highlighted that decisive policies and a strong package of economic reforms would enable Pakistan to restore the resilience of its economy and lay the foundations for stronger and more inclusive growth,” Ms. Lagarde said, according to a statement issued by the Washington-based Fund.
“As emphasized in the new government’s policy agenda, protecting the poor and strengthening governance are key priorities to improve people’s living standards in a sustainable manner,” she added.
