World Bank Urges Pakistan to Unlock $2 Billion in Funds by Meeting Reform Goals

World Bank urges Pakistan to work together to unlock $2 billion in funds, contingent on meeting agreed-upon indicators
$2 billion disbursement possible after Pakistan completes required deliverables
World Bank country director and Pakistan finance minister discuss ongoing partnership and portfolio
Joint efforts aim to improve implementation and maximize disbursement of $2 billion this fiscal year
Minister shares reform agenda and priorities like energy policy to stimulate growth; asks for more flood support

geo.tv

Relevant topic timeline:

8/27/2023

Breaking Pakistan’s dirty IMF habit

Pakistan's recent financial aid and investment partnerships, including with the IMF, Saudi Arabia, UAE, and China, provide temporary relief from economic challenges, but the country must address issues such as low growth, high inflation, unemployment, and limited foreign exchange reserves through deregulation, investment in education and technology, tax reform, privatization, and political stability to achieve lasting prosperity.

9/8/2023

Pakistan's Interim Government Focuses on Reviving Economy and Fulfilling IMF Agreements

Pakistan's interim government is prioritizing economic revival and fulfilling international obligations, including agreements with the International Monetary Fund (IMF), to address the stagnant economy and financial issues. They aim to improve the overall business and investment environment, increase inflow of dollars from multilateral institutions, and reduce expenditures while upholding international agreements.

9/28/2023

Pakistan to Hold IMF Talks on $3B Loan Next Month, Seeks $710M Disbursement

The caretaker government of Pakistan is set to begin talks with the International Monetary Fund (IMF) next month to review the $3 billion Standby Arrangement, with the second quarterly review due in October and a disbursement of $710 million expected in December. The IMF has emphasized the importance of full and timely implementation of the program for its success in light of the country's economic challenges. The finance minister has also highlighted the need for a consensus among politicians to address economic issues.

10/2/2023

World Bank Approves $10 Billion in South Asia Lending, With Pakistan Top Recipient

Pakistan secured $2.3 billion in funding from the World Bank, making it the top borrower of the International Development Association (IDA) in fiscal year 2023, while the World Bank approved $10.1 billion for 37 operations in South Asia.

Topics

Posted 9/10/2023, 4:30:00 AM