International Monetary Fund (IMF) Executive Board is expected to approve the staff-level agreement
Federal Finance Minister Muhammad Aurangzeb stated that by the end of this month, the International Monetary Fund (IMF) Executive Board is expected to approve the staff-level agreement.
He shared these remarks during a ceremony in Islamabad on Tuesday. Minister Aurangzeb further mentioned that Pakistan is listed among the countries affected by climate change, and once the IMF Executive Board approves the agreement, discussions on climate financing will follow. In October, during the annual meetings, discussions will be held with the IMF and World Bank regarding climate financing.
The Finance Minister also highlighted the rapid population growth in Pakistan, describing it as a "population bomb" that has already exploded. He stressed that Pakistan needs to manage the impacts of climate change while also controlling its population growth. Effective plans for climate change financing with the IMF and World Bank are crucial. He added that the Ministry of Finance, the Ministry of Climate Change, the IMF, and the World Bank are working together to improve the country's economic situation through budgetary and tax measures, energy sector reforms, and better living standards. Enhanced monitoring of climate change projects in collaboration with the IMF and World Bank is essential. Minister Aurangzeb emphasized the need for the private sector to contribute to economic improvement and for the development of critical climate policies to address climate change impacts.Finance Minister Muhammad Aurangzeb stated that by the end of this month, the International Monetary Fund (IMF) Executive Board is expected to approve the staff-level agreement. He shared these remarks during a ceremony in Islamabad on Tuesday. Minister Aurangzeb further mentioned that Pakistan is listed among the countries affected by climate change, and once the IMF Executive Board approves the agreement, discussions on climate financing will follow. In October, during the annual meetings, discussions will be held with the IMF and World Bank regarding climate financing.
The Finance Minister also highlighted the rapid population growth in Pakistan, describing it as a "population bomb" that has already exploded. He stressed that Pakistan needs to manage the impacts of climate change while also controlling its population growth. Effective plans for climate change financing with the IMF and World Bank are crucial. He added that the Ministry of Finance, the Ministry of Climate Change, the IMF, and the World Bank are working together to improve the country's economic situation through budgetary and tax measures, energy sector reforms, and better living standards. Enhanced monitoring of climate change projects in collaboration with the IMF and World Bank is essential. Minister Aurangzeb emphasized the need for the private sector to contribute to economic improvement and for the development of critical climate policies to address climate change impacts.
