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Asad Umar held important meetings with WB, IMF officials

Asad Umar held important meetings with WB, IMF officials
April 12, 2019
WASHINGTON (92 News) – Minister for Finance Asad Umar and his team held meetings with the World Bank and the IMF high-level officials on the sidelines of the scheduled annual IMF Spring moot. Pakistani delegation led by Asad Umer has participated in IMF and WB Spring meetings in Washington and discussed the economic situation of Pakistan. The finance minister’s delegation includes State Bank of Pakistan (SBP) Governor Tariq Bajwa, Finance Secretary Younas Dagha, Economic Affairs Division Secretary Noor Ahmed and others. The delegation reached the US capital on Tuesday evening and is expected to stay for two days. On the sidelines of the meetings, the finance minister also met with the new World Bank President David Malpass and apprised him of the macroeconomic situation in the country and discussed continuation of Pakistan's ongoing engagement with the Bank. Malpass appreciated the reform process in the country and assured continued World Bank support. Asad Umer also met with the First Deputy Managing Director of IMF David Lipton and talked about the ongoing negotiations with the IMF. The finance minister had a business round-table with members of the US Pakistan Business Council. The business council expressed their strong interest in Pakistan's market and shared their future plans as well as issues where they needed support from the government. Talking to the business council, Asad Umer said the present government is completely focused on improving the ease of doing business in Pakistan. He further said Prime Minister Imran Khan is personally monitoring the reform process in this regard. The delegation discussed various economic and development projects with the World Bank president, as well as with the Executive Director and Deputy Managing Director of the IMF. The finance minister also met the World Bank’s Vice President for South Asia Region. He was scheduled to sit with the Assistant Secretary and Acting Assistant Secretary of the US Treasury. The finance minister chaired a meeting with the members of the US-Pakistan Council to explore investment opportunities and prospects in Pakistan. Asad Umar is also expected to further deliberate on terms of a multiple year support funding from the IMF. Before leaving Islamabad, he had declared that the talks with the IMF for a funding package was in final stages.