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ADB Acknowledges Pakistan’s Progress and IMF Agreement
The Asian Development Bank (ADB) Country Director, Young Ye, has congratulated Pakistan on its recent achievement of reaching an agreement with the International Monetary Fund (IMF). This recognition comes as a testament to the positive developments in the Pakistani economy since the approval of the standby arrangement (SBA).
ADB Delegation Meets with Finance Minister for Discussion
A delegation from ADB, led by Country Director Young Ye, recently met with the Federal Minister for Finance and Revenue, Senator Ishaq Dar, at the Finance Division. The delegation expressed appreciation for the valuable role played by ADB in promoting sustainable development in Pakistan. The Finance Minister provided an overview of the current economic outlook of the country and briefed the delegation on the recently concluded SBA.
Reform Priorities and Ongoing Development Projects
During the meeting, Minister Dar shared the government’s reform priorities in key areas, including domestic revenue mobilization, energy sector reforms, and women-inclusive finance. The timely implementation of ongoing development projects funded by ADB was also discussed. The government reiterated its commitment to fulfilling all international obligations within the designated timeframes and expressed dedication to completing the SBA.
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ADB’s Support for Food Security and Rehabilitation Efforts
ADB Country Director Young Ye commended the government on its reforms and policy decisions that contribute to sustainable economic development. ADB extended its support specifically for enhancing food security in Pakistan and the rehabilitation of flood affectees. The delegation thanked the Minister for ensuring the fast-track progress of various development projects being executed by ADB.
Collaborative Efforts for Sustainable Development
In addition to the Finance Minister and ADB delegation, other key officials, including SAPM on Finance Tariq Bajwa and the Secretary of Finance, participated in the meeting. The collaborative discussion highlighted the importance of ongoing projects, sustainable development, and the commitment of both ADB and the Pakistani government to achieve mutual objectives.
Conclusion
In conclusion, the Asian Development Bank commends Pakistan on reaching an agreement with the IMF and acknowledges the positive developments in the country’s economy. The meeting between ADB delegation and the Finance Minister highlighted the government’s reform priorities, ongoing development projects, and the commitment to fulfill international obligations. The support of ADB, specifically in areas such as food security and rehabilitation efforts, demonstrates the collaboration between ADB and Pakistan in pursuing sustainable economic development.
