PM Shehbaz meets lenders with IMF review scheduled today
• Premier attends United Nations General Assembly, meets president of Maldives
• Expected to meet UK PM Starmer, Bangladeshi leader Yunus; no formal meeting with Biden on the cards
• Tarar says Kashmir, Palestine issues ‘focal point’ of PM’s interactions; Asif hails ‘Pact for the Future’
UNITED NATIONS: Prime Minister Shehbaz Sharif is set to meet the heads of the International Monetary Fund (IMF) and the World Bank today (Wednesday), the same day the IMF board is scheduled to take up Pakistan’s request for an extended loan facility.
In recent statements, PM Shehbaz has expressed optimism today’s talks will pave the way for the finalisation of a new IMF package, emphasising the critical role of Pakistan’s friendly nations in facilitating the IMF’s decision to schedule the board meeting.
He is expected to meet IMF chief Kristalina Georgieva and World Bank President Ajay Banga today on the sidelines of the United Nations General Assembly.
IMF Director of Strategic Communications Julie Kozack had informed reporters in Washington earlier this month that the Fund had scheduled the board meeting after receiving assurances that “Pakistan is obtaining necessary financing from its development partners.”
Pakistani diplomats handling financial matters have dispelled rumors that the loan deal might be at risk, highlighting the importance of these high-level meetings.
The $7 billion loan agreement, reached in July, awaits formal approval from the IMF’s executive board.
One of the IMF’s key preconditions was for Pakistan to secure bilateral financing to qualify for the new loan package.
PM arrives at UN
Earlier, the premier arrived in New York on Monday afternoon to attend the UN General Assembly.
According to PM Office, he met with Maldives President Dr Mohamed Muizzu on Tuesday on the sidelines of the UNGA session. PM Shehbaz reaffirmed Pakistan’s commitment to enhancing cooperation with the Maldives in the fields of trade, tourism, education, investment and climate change.
Over the next few days, he will engage in bilateral discussions with various world leaders, including British Prime Minister Keir Starmer.
While several interactions with US President Joe Biden are expected, a formal one-on-one meeting between the two leaders is not on the agenda.
PM Shehbaz is also expected to hold an eagerly anticipated meeting with Bangladesh’s Chief Advisor Dr Muhammad Yunus today.
Engagement on Kashmir and Palestine
Speaking to reporters on Tuesday, Information Minister Attaullah Tarar stressed that lasting global peace would be unattainable without a permanent resolution to the Palestinian and Kashmir issues.
Mr Tarar noted that PM Shehbaz had raised both matters during his interactions with world leaders. He said that Pakistan advocates for the restoration of pre-1967 borders, with Jerusalem as the capital of Palestine.
“We want an immediate ceasefire in Gaza and accountability of the aggressor Israel for war crimes and genocide being committed in Palestine,” he said.
Mr Tarar also highlighted that the Kashmir issue would be a focal point in the PM’s engagements at the United Nations, including his address to the UN General Assembly. Climate change would be another major topic raised by the Prime Minister.
Pact for the Future
Meanwhile, Pakistan hailed the UN’s ‘Pact for the Future’ as a major step toward global reform, with Defence Minister Khawaja Asif calling for concrete action to address global challenges, particularly injustices like those occurring in Gaza.
Speaking at the Summit of the Future earlier this week, Mr Asif emphasised that the pact’s success hinges on implementation.
The pact, unanimously approved by world leaders, focuses on issues such as sustainable development, global peace, and financial reform, with a special emphasis on youth and future generations.
On global security, Mr Asif urged easing tensions among major powers, arms control, and resolving long-standing disputes like Jammu and Kashmir.
He cautioned against expanding permanent UN Security Council membership, warning, “Expanding permanent membership… could lead to further paralysis,” and advocated for more non-permanent, elected members to ensure inclusivity.
Published in Dawn, September 25th, 2024