IMF Delegation to Visit Pakistan for Climate Financing Talks
- Fahad Bin Khalid
- November 11, 2024
- 11:57 am
- 24
- Current Affairs

An IMF delegation, led by Nathan Porter, will be in Pakistan from November 11 to 15. They aim to discuss a $1 billion climate loan. This visit is key in Pakistan's quest for climate funding. It aims to tackle urgent environmental and economic issues. The IMF's support shows Pakistan's focus on sustainable development. It also aims to improve the country's fiscal health.
Pakistan’s Climate Financing Push
Pakistan has stressed its need for climate funds to cope with natural disasters. Last month, the government asked the IMF for help. It wants to support climate resilience projects, as Pakistan is vulnerable to climate change. The government aims to reduce damage from natural disasters by funding climate initiatives.
Pakistan has pledged to spend 1% of its GDP on climate action. It recognizes climate change as a priority. The talks with the IMF team will focus on concessional loans. They could make climate financing more accessible and affordable for Pakistan's climate goals.
Provincial Budgets and Climate Commitments
The IMF delegation will review Pakistan's provincial budgets. It will focus on climate action funds. The government hopes to fund climate projects. It wants each province to help build climate resilience. These funds must be used effectively. Pakistan's infrastructure and economy are under strain from natural disasters.
Pakistan's economy faces domestic and global challenges. The IMF team will assess its fiscal health. With adjustments to the national budget and new fiscal measures, Pakistan has projected a primary surplus of 0.4% of GDP for the 2024 fiscal year. The IMF's review will likely stress a stable exchange rate and low inflation. Both are key for economic stability.
Progress on Economic Stability and Climate Action
Pakistan's recent fiscal tweaks aim to stabilize the economy. But, climate resilience is also key to its development plan. Pakistan has requested $2 billion in climate funding. But, it was not approved right away. A new $1.5 billion request was submitted in September. It shows Pakistan's commitment to seeking climate support despite setbacks.
This visit marks an important step toward climate and economic stability. Pakistan hopes that more IMF support will boost its commitment to sustainable growth and climate action. The talks should create new programs for climate adaptation and economic resilience. They will help Pakistan address climate challenges.