IMF to Work with International Community to Support Flood-Hit Pakistan

The International Monetary Fund (IMF) said on Sunday that it will work with the international community to support Pakistan’s relief and reconstruction efforts following the devastating floods.

“We will work with others in the international community to support, under the current program, the authorities’ relief and reconstruction efforts, and especially their ongoing endeavour to assist those affected by the floods while ensuring sustainable policies and macroeconomic stability,” the IMF’s Resident Representative in Islamabad Esther Perez Ruiz said in a statement.

“IMF is deeply saddened by the devastating impact of the floods in Pakistan,” the statement added.

The floods have affected over 33 million people. About 81 districts in Sindh, Punjab, Balochistan, and Khyber Pakhtunkhwa have been officially notified as ‘calamity hit’ with over 1,500 dead since June 14th, according to the latest data released by the National Disaster Management Authority (NDMA).

As a result of recent floods, 6,675 kilometers of roads, 269 bridges, and over 1.7 million houses have been partially or fully damaged. 750,223 heads of livestock have been lost with over 8.3 million acres of crops affected.

WHO warns of second disaster

The World Health Organisation (WHO) Director-General Tedros Adhanom Ghebreyesus has expressed concerns over the potential for a second disaster in Pakistan due to the spread of diseases in the flood-hit areas of the country.

In a statement, the WHO chief said that the water supply is disrupted, forcing people to drink unsafe water, which can spread cholera and other diarrhoeal diseases. He urged donors to continue to respond “generously” so that lives can be saved.

Flood damages could top $40 billion

Planning Minister Ahsan Iqbal, who heads the National Flood Response Coordination Centre (NFRCC), had recently said that the scale of flood losses could be over $40 billion.

On Friday, the National Assembly Standing Committee on Finance was informed that the government will approach IMF and bilateral and multilateral donors once the survey of flood damages is completed.

The Executive Board of the IMF had completed the combined seventh and eighth reviews of the Extended Arrangement under the Extended Fund Facility (EFF) for Pakistan last month, allowing for an immediate disbursement of about $1.1 billion.