PARIS: Prime Minister Shehbaz Sharif met International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Thursday and apprised her of steps taken to address Pakistan’s flailing economy, expressing hope that the funds allocated under the lender’s Extended Fund Facility (EFF) would be released as soon as possible.

The meeting took place on the sidelines of the New Global Financing Pact Summit in Paris, which the prime minister is attending at the invitation of French President Emmanuel Macron.

The premier’s meeting with Georgieva comes as Pakistan’s ninth review by the IMF under the 2019 EFF for the release of $1.2 billion stays pending with less than 10 days remaining till the programme’s expiry on June 30.

The country was expected to get around $1.2 billion from the lender in October last year as part of the EFF’s ninth review. But almost eight months later, that tranche has not materialised as the IMF says Pakistan has been unable to meet important prerequisites.

Because of this delay, the programme’s tenth review, which was originally part of the plan, is all but out of question.

According to a statement issued by the Prime Minister’s Office today, PM Shehbaz outlined the steps taken by the government for economic growth and stability in his meeting with the IMF managing director.

“He underscored that all prior actions for the ninth review under the EFF had been completed and the government of Pakistan was fully committed to fulfilling its obligations as agreed with the IMF,” it said.

The prime minister, the statement said, expressed the hope that the funds allocated under the IMF’s EFF would be released as soon as possible. “This would help strengthen Pakistan’s ongoing efforts towards economic stabilisation and bring relief to its people.”

Meanwhile, IMF’s Georgieva shared her institution’s perspective on the ongoing review process. The PMO added that the meeting provided a useful opportunity to take stock of the progress in that context.

The meeting was also attended by Climate Change Minister Sherry Rehman, Economic Affairs Minister Sardar Ayaz Sadiq, Information and Broadcasting Minister Marriyum Aurangzeb, Minister of State for Finance and Revenue Aisha Ghaus Pasha, Special Assistant to PM Tariq Fatemi and Pakistan’s Ambassador to France Asim Iftikhar Ahmad.