World Bank president to visit Pakistan in February

President Jim Yong Kim is set to arrive in Pakistan on February 9


News Desk January 29, 2016
President Jim Yong Kim is set to arrive in Pakistan on February 9 on a two-day visit. PHOTO: REUTERS

World Bank president Dr Jim Yong Kim is set to arrive in Pakistan on February 9 on a two-day official visit, Radio Pakistan reported.

Secretary Economic Affairs Division Tariq Bajwa revealed the date of the visit during a meeting chaired by Finance Minister Ishaq Dar in Islamabad.

World Bank report warns Pakistan of ‘substantial’ fiscal risks

The visiting dignitary is set to have special interaction with the finance minister and economists to discuss measures to strengthen cooperation with Pakistan.

A detailed review of Pak-World Bank economic cooperation was also given during the meeting.

WB earlier this month warned that sovereign guarantees against the $46 billion China-Pakistan Economic Corridor (CPEC) investment and a likelihood of ramping up spending ahead of the next general elections could carry substantial fiscal risks for Pakistan.

World Bank approves $35m loan to Pakistan for Indus River Basin

In its latest report titled Global Economic Prospects 2016, the Washington-based global lender has highlighted challenges and opportunities that CPEC offers to Pakistan. “Sovereign guarantees associated with CPEC could pose substantial fiscal risks over the medium term,” it noted.

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