External debt to GDP ratio stands at 20%: Secretary Finance

WASHINGTON, Oct. 9 (APP): Secretary Finance Dr Waqar Masood Khan met Annette Dixon, Vice President World Bank, here Saturday and briefed her about recent gains by Pakistan’s economy following sound reforms, carried out by the government, which has boosted investors’ confidence in the country.

During the meeting, held on the margins of Annual Meetings of IMF and World Bank, the Finance Secretary briefed Ms Dixon about successful issuance of Sukook Bonds at the lowest rates in Pakistan’s history.

The fact that the Bonds were oversubscribed 5 times after the completion of IMF Programme, reflected the confidence of international markets in the economic policies of the government, the Finance Secretary said.

He highlighted that it is the first time in history that Pakistan has completed an IMF programme, and that too under a political government.

He assured that the government will continue to pursue sound economic policies to take economic growth to a higher trajectory.

The World Bank Vice President congratulated the Finance Secretary on completion of IMF Programme and successful issuance of Sukook Bonds.

She conveyed her compliments to the Pakistan’s Finance Minister who could not attend Annual Meetings due to pressing domestic engagements.

She expressed the hope that the government will continue the reform process for the benefit of underprivileged strata of society.

Ms Dixon stated that World Bank is proud to be a partner in Pakistan’s development programme.

She said that World Bank is specially looking for deeper cooperation in DPC Loans, clean energy and nutritional programmes.