Finance Minister Nirmala Sitharaman on Tuesday met with US Treasury Secretary Janet Yellen on the sidelines of the World Bank and IMF Spring Meetings 2023 in Washington.
The Union Finance Minister will be attending meetings with Finance Ministers and Central Bankers from across the world. The meeting is scheduled to take place today at IMF Headquarters in Washington.
The 2023 Spring Meetings will be held in Washington, D.C., from April 10-16 under the theme "The Way Forward: Building Resilience and Reshaping Development''.
In a statement to the spring meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG), the International Trade Union Confederation (ITUC) and its Global Unions partners are calling for the International Financial Institutions (IFIs) to overhaul the multilateral system
During her stay, Sitharaman will be attending the 2023 Spring Meetings of the World Bank and the International Monetary Fund (IMF), along with G20 meetings, Investor/ Bilateral meetings, and other associated meetings.
Mohamed Bin Hadi Al Hussaini stated that the ministry is keen on attending and participating in such international events, engaging in the international decision-making process and unifying efforts to serve the countries of the region and the world.
"We are now only awaiting the confirmation of a USD 1bn commitment from one friendly country. After that, all their requirements to conclude the staff-level agreement will be complete. Following that, it takes two more weeks to take the matter into the board meeting," he assured his people.
Union Finance Minister Nirmala Sitharaman is to embark today on an official visit to the United States where she will attend Spring Annual Meetings of the IMF-World Bank. She will begin her official visit to the US from April 10.
Pakistan's Minister for Finance and Revenue Ishaq Dar has cancelled his visit to the United States despite Islamabad making efforts to pursue the International Monetary Fund (IMF) to release a loan tranche, The Express Tribune reported.
Increasing interest rates and uncertainty in financial markets have further enhanced pressure on Pakistan's economy, with future economic prospects heavily reliant on structural reform.
The World Bank in its flagship report 'Pakistan Development Update' warned Pakistan regarding serious dangers to its economic and debt viability while predicting almost flat economic growth.
The World Bank has forecast about four million people falling below the lower middle-income poverty line amid economic growth plummeting to just 0.4 per cent against a budgeted target of 5pc