International Monetary Fund (IMF) Managing Director Kristalina Georgieva praised Pakistan on Friday for “seriously” embracing reforms under its IMF programme, noting that the efforts were already showing positive results.
Speaking to Pakistan TV on the sidelines of the 56th annual World Economic Forum (WEF) in Davos, Georgieva said, “The Pakistani government has seriously embraced reforms and the fruits of action are already there. We are finally seeing budget discipline bringing resources that can be deployed to improve the lives of people.”
The IMF chief described the programme as a “Pakistani programme” and expressed confidence in its continued implementation. She commended Prime Minister Shehbaz Sharif for his seriousness in carrying forward difficult reforms, saying, “When he gives his word that something would be done, it gets done.”
Georgieva noted that meetings with Pakistani leadership had been productive, focusing on areas of progress and challenges needing further attention. The discussions also touched on global economic outlooks, emerging market challenges, and the importance of multilateral cooperation for economic stability.
Her remarks follow a meeting between PM Shehbaz and Georgieva at the WEF, where the premier highlighted improving macroeconomic indicators, fiscal discipline, revenue mobilisation, and institutional reforms.
The IMF recently approved the third tranche of a $7 billion Extended Fund Facility (EFF) for Pakistan, including waivers for missed programme targets while securing commitments to additional tax measures and structural reforms. These include the recent privatisation of Pakistan International Airlines (PIA) and a broader 142-point governance reform agenda focused on institutional strengthening and transparency.
As part of the reform commitments, Pakistan will publish the first annual report of the Special Investment Facilitation Council (SIFC) by June 2027, enhancing transparency in strategic investment projects.