Fiscal discipline, good governance vital for Pakistan’s long-term economic stability: IMF

The International Monetary Fund (IMF) managing director has called on Pakistan has maintained that in order to ensure long-term economic stability Pakistan needs sustained monetary discipline, institutional reforms and effective governance, reported 24NewsHD TV channel.

IMF Director General Kristalina Georgieva made these remarks in a detailed meeting with Prime Minister Shehbaz Sharif which was held in Dubai late Tuesday.

PM Shehbaz and Kristalina Georgieva discussed a string of issues including Pakistan’s ongoing IMF loan programme and the macroeconomic stability achieved through the government’s comprehensive reform agenda.

The meeting, held on the sidelines of the World Governments Summit (WGS) 2025 in Dubai, highlighted Pakistan’s commitment to implementing structural reforms and maintaining fiscal discipline, which had been instrumental in restoring economic stability and would be critical in driving sustainable growth, according to a PM Office press release issued in Islamabad on Wednesday.

Shehbaz Sharif underscored the progress made under the IMF’s Extended Fund Facility (EFF), which has played a key role in stabilizing Pakistan’s economy; setting it on the path of long-term recovery. He reaffirmed the government’s resolve to sustain the reform momentum, particularly in critical areas such as tax reforms, energy sector efficiency, and private sector development.

The prime minister assured the IMF chief of Pakistan’s commitment to economic prudence, efficiency, and sustainability as essential pillars for achieving inclusive and sustained growth.

IMF chief Kristalina Georgieva commended Pakistan’s efforts in effectively implementing the IMF-supported programme, highlighting the country’s improving economic performance with rising growth and declining inflation. She recognized that Pakistan is on the path to growth and has undergone economic recovery.

She also acknowledged Prime Minister Shehbaz Sharif’s leadership and personal commitment to driving the country’s reform agenda, which has been critical in achieving economic stability and progress.

The IMF director general reiterated tjat the IMF’s continued support for Pakistan’s reform agenda, emphasizing the importance of sustained fiscal discipline, structural reforms, and good governance to ensure long-term economic stability and growth.

Reporter Waqas Aseem