IMF, WB, IsDB vow continued support to Pakistan

The International Monetary Fund (IMF), the World Bank (WB) and Islamic Development Bank (IsDB) on Thursday assured Pakistan of complete cooperation and support as the country suffers from the consequences of devastating floods.

The commitments of continued support to the country by the lenders were made during separate meetings with Finance Minister Ishaq Dar, who is currently in the United States to attend annual meetings of the WB and the IMF.

According to a press statement, the finance minister met IMF Deputy Managing Director Antoinette Sayeh who appreciated the government’s policies.

In a separate meeting with President World Bank David Malpass, Dar thanked him for the bank’s assistance in rescue and relief operations during the catastrophic floods, which put a third of Pakistan underwater, displaced eight million, destroyed or damaged two million homes, crippled 1,500 hospitals and clinics, and caused an estimated $28 billion in damages.

The statement added that Malpass assured to continue to support Pakistan to help it overcome its socio-economic challenges due to the floods.

Read: UNGA calls for more money to flood-ravaged Pakistan

The finance minister also held a separate meeting with Vice President WB’s South Asia Region Martin Raiser. During the meeting, Raiser assured support to the country to overcome the economic crisis it currently faces.

During a meeting with Dar, IsDB President Dr Muhammad Sulaiman Al Jasser appreciated Pakistan’s efforts to stabilise the economy while providing relief to the flood affectees.

The finance minister also held meetings with Deutsche Bank and JP Morgan leaders and briefed them about the government’s plan to stabilise the economy while helping flood victims.

Dar also assured that Islamabad was committed to completing the IMF’s programme.