PM Sharif Meets IMF Delegation to Discuss Economic Reforms

As Pakistan gears up for the fiscal year 2025-26 budget in the coming days, Prime Minister Shehbaz Sharif engaged with a delegation from the International Monetary Fund (IMF) to assess the nation’s ongoing economic reform plan under the Fund’s program.

The significant meeting, which took place on Thursday, was headed by Jihad Azour, the Director of the Middle East and Central Asia Department (MCD) at the IMF.

Several high-ranking officials were present, including Federal Ministers Ahad Khan Cheema, Muhammad Aurangzeb, Finance Secretary Imdadullah Bosal, and Chairman of the Federal Board of Revenue (FBR), Rashid Mahmood Langrial.

According to a statement released by the Prime Minister’s Office (PMO), both parties reviewed the advancement of the current IMF program in Pakistan. They conveyed contentment with the government’s execution of reforms and the favorable results attained thus far.

PM Shehbaz commented, “With God’s blessing, Pakistan is progressing towards advancement following a period of economic stabilization.”

The prime minister reaffirmed his administration’s dedication to expediting institutional reforms, alongside macroeconomic level adjustments.

Furthermore, the IMF delegation communicated its continuous backing for Pakistan’s reform initiatives, economic soundness, and overall progress, as stated by the PMO.

In March, IMF representatives and Pakistan reached an understanding for a fresh $1.3 billion arrangement and concurred on the initial assessment of the existing 37-month bailout initiative.

In July 2024, Pakistani authorities and the IMF achieved a staff-level agreement on the Extended Fund Facility (EFF) amounting to SDR 5,320 million (approximately USD 7 billion), which subsequently gained approval from the IMF’s Executive Board in late September.

Analysts suggest that the IMF program holds significant value, offering the government a framework for economic overhauls while reinforcing the country’s foreign exchange reserves.

Pakistan is scheduled to reveal the Federal Budget FY26 on June 02, 2025.