IMF-World Bank Spring Meetings to Start Today

The Spring Meetings of the International Monetary Fund (IMF) and World Bank will kick off today in Washington and continue till 24 April.

The Pakistani delegation will also participate, and some important meetings with the officials of the IMF are also expected. According to the schedule, the meetings of the IMF and World Bank will last from 18 April to 24 April in Washington.

According to the officials of the Ministry of Finance, the Pakistani delegation will be represented by the Finance Secretary, Additional Sectary on External Finance, and the Governor and Deputy Governor State Bank of Pakistan.

The delegation is likely to meet with the IMF delegation during the sideline meetings. The expected Finance Advisor, Miftah Ismail, may also join the meetings virtually as he can’t travel abroad due to his name on the exit control list. Sources said that the revival of the loan program will be key agenda of the upcoming meeting in Washington between the Pakistani delegation and IMF officials.

Experts suggest that the revival of the IMF loan program for the new government will not be simple without changing the approach of subsidized policies in the country. The government has to reduce or remove the subsidies on the energy sector, which are pushing up the budget and current account deficit. The government’s decision to keep petroleum prices unchanged also sent wrong signals to the IMF. Without changing the approach and doing away with the relief mechanism, the revival of the IMF program will remain impossible.

According to the schedule, senior officials from different countries besides high officials of IMF and World Bank will speak at the occasion. Co-founder and Board Chair of Malala Fund, Malala Yousafzai, will also speak during a session, titled “IMF Inspired: Breaking Barriers: A Conversation with Malala and Kristalina Georgieva,” according to the schedule.

The Managing Director of IMF, Kristalina Georgieva, Governor of the Central Bank of Brazil, Roberto Campos Neto, Managing Director of the Monetary Authority of Singapore, Ravi Menon, and Minister of Finance of India, Nirmala Sitharaman, will also speak in a session, according to the schedule.

Former aid to the Ex-Prime Minister Imran Khan, Senator Dr. Sania Nishter, will also address a session on Human Capital at the crossroad on 23 April.