World Bank acknowledges Pakistan's moves to support economy

ID :
Sat, 08/30/2008 - 11:41

World Bank acknowledges Pakistan's moves to support economy

Islamabad, Aug 29 PPI: World Bank commended Pakistan's steps to support economy in face of high international prices for petroleum and food commodities.

Visiting World Bank Vice President for South Asia Region, Ms Isabel Guerrero said
additional actions are needed to safeguard economy against further shocks and allow
an effective response to development challenges facing Pakistan.

``I wanted to meet counterparts in the government, especially economic team, prior
to welcoming them in Washington during WB-IMF Annual Meetings later in the year,''
said Guerrero.

She discussed with Prime Minister Yousuf Raza Gilani and Finance Minister Naveed
Qamar Government's reform plans and the World Bank program.

In addition to planned loans and credits, Ms. Guerrero offered World Bank technical
and analytical support to ensure Pakistan has best international expertise to
address development challenges.

She reconfirmed Bank's ongoing commitment to Pakistan. She noted Bank's investment
programs are on track despite some political and security uncertainty over past few

Pakistan needs to build upon its good economic foundation taking additional bold
measures to strengthen investor confidence, she said.