Dar urges greater policy support from IMF, donors amid catastrophic floods


WASHINGTON: Finance Minister Ishaq Dar Sunday urged the International Monetary Fund (IMF) and multilateral donors to provide Pakistan with greater policy support following the impact of climate-induced floods on the country’s economy.

Speaking during a meeting of MENAP (Middle East, North Africa, Afghanistan, and Pakistan), the minister urged IMF to modify its response to Pakistan’s situation and that of other countries going through similar issues by considering the grave economic, social, and political challenges faced by them due to calamities triggered by climate change.

This meeting in Washington DC was attended by finance ministers of different countries and central bank governors, while the IMF’s Managing Director Kristalina Georgieva was also present.

Shedding light on the humanitarian crisis and the disaster’s scale, Dar pleaded for more policy support for Pakistan.

The minister welcomed new IMF instruments Resilience and Sustainability Trust (RST) and Food Shock Window under Rapid Financing Instrument (RFI) to support countries.

He also thanked the IMF managing director for her sentiments and commitment to completing the Fund programme despite challenges.

Meanwhile, the finance minister and State Bank of Pakistan Governor Jameel Ahmad met Queen Maxima of the Netherlands on the sidelines of the annual meetings of IMF-World Bank to discuss financial inclusion and banking on equality.


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