KARACHI: The International Monetary Fund (IMF) has provided “positive feedback” on Pakistan’s structural reform efforts, which have contributed to macroeconomic stability, Finance Minister Muhammad Aurangzeb said on Wednesday. He made these remarks while addressing an insurance conference in Karachi via video link.
Aurangzeb’s comments follow Prime Minister Shehbaz Sharif’s meeting with IMF Managing Director Kristalina Georgieva at the World Government Summit in Dubai, where he reaffirmed his government’s commitment to ongoing reforms.
The meeting took place ahead of the IMF’s upcoming review of Pakistan’s $7 billion loan program, approved in September last year. A successful review in the coming weeks would unlock a $1 billion tranche, helping Pakistan bolster its foreign exchange reserves and meet the lender’s import cover requirements.
Sharing details of the discussions, the finance minister stated, “We received very positive feedback regarding the macroeconomic stability achieved over the past 12 months.”
Describing the meeting as “constructive and highly positive,” he noted that the IMF chief appreciated Pakistan’s dedication to implementing reforms. “We are progressing well in this program,” Aurangzeb added.
According to a statement from the Prime Minister’s Office, Sharif acknowledged the progress made under the IMF’s Extended Fund Facility (EFF), which has set Pakistan on a path toward long-term economic recovery.
“He reiterated the government’s commitment to maintaining reform momentum, particularly in key areas such as tax reforms, energy sector improvements, and private sector development,” the statement said.
“The Prime Minister assured Ms. Georgieva of Pakistan’s dedication to economic prudence, efficiency, and sustainability as fundamental pillars for inclusive and sustained growth.”
Following the meeting, Georgieva shared her thoughts on X (formerly Twitter), expressing optimism about Pakistan’s reform progress.
“Wonderful to meet [Pakistan’s] Prime Minister @CMShehbaz and his team. I am encouraged by their strong commitment to Pakistan’s IMF-supported reforms and support their decisive actions to pave the way to higher growth and more jobs for Pakistan’s youthful population,” she posted.
The meeting took place as an IMF delegation is currently in Pakistan conducting a governance and corruption diagnostic assessment, which is part of the broader reform agenda under the EFF.
The next IMF review is scheduled for March, with Pakistan’s government and central bank confident in meeting the necessary reform targets for loan disbursement.