Asian Development Bank has acknowledged the structural reforms undertaken by Pakistan towards economic stabilization.
President ADB Takehiko Nakao was talking to Adviser on Finance Hafeez Shaikh in Washington. Nakao said the Asian Development Bank is an important financial partner of Pakistean.
The Adviser on Finance apprised the ADB President about the steps taken by the government to curtail the current account and capital account deficits effectively. The Adviser also met with Hartwig Schafer, Vice President of World Bank’s South Asian Region and his team. The meeting reviewed the World Bank’s portfolio in Pakistan and exchanged views on further steps to strengthen cooperation between Pakistan and the Bank.
Later, Hafeez Shaikh along with his delegation also met with Director Middle East and Central Asia Department of IMF Jihad Azour. They discussed the implementation of the ongoing IMF program. The IMF director appreciated the progress made towards economic stabilization as well as government’s commitment to the reform process.
Hafeez Shaikh also attended informal meeting of the SAARC finance ministers that focused on trade facilitation within the SAARC region. Vice President of International Finance Corporation Nena Stoiljkovic during a meeting with Hafeez Shaikh expressed interest in providing advisory services for structuring public private partnership transactions.
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