Contacts:
In Islamabad: Shahzad Sharjeel (92-51) 2279641
ssharjeel@worldbank.org
In Washington: Erik Nora (202) 458 4735
enora@worldbank.org
Islamabad, 28 August, 2008- Isabel Guerrero, the new World Bank Vice President for the South Asia Region ended a two day visit to Pakistan on Thursday, noting that the Government has taken a number of steps to support the economy in face of high international prices for petroleum and food commodities. She emphasized that additional actions are needed to safeguard the economy against further shocks and allow an effective response to the development challenges facing Pakistan.
“I wanted to meet counterparts in the Government, especially the economic team, prior to welcoming them in Washington during the WB-IMF Annual Meetings later in the year”, said Guerrero. "I will be visiting Pakistan regularly and look forward to working with Government and other stakeholders across this wonderful country.”
Ms. Guerrero met with the Government’s economic team, led by the Finance Minister, Naveed Qamar to discuss the Government’s reform plans and the World Bank program. In meetings with Prime Minister Yousaf Gilani and Pakistan Peoples Party Co-chairman Asif Zardari, the World Bank team discussed power, infrastructure, water management, education, safety nets, public health and nutrition as priority areas for development support. In addition to the planned loans and credits, Ms. Guerrero offered World Bank technical and analytical support to ensure Pakistan has the best international expertise to address its development challenges.
During her visit Ms. Guerrero reconfirmed the World Bank’s ongoing commitment to Pakistan. She noted that the World Bank’s investment programs in Pakistan are on track despite some political and security uncertainty over the past few months.
“This was my introductory visit to Pakistan and I had excellent meetings with the Government’s Economic team on the economic situation. Policies and administered prices now reflect a better correlation with high international prices, but to ensure that gains made in poverty reduction are not lost, Pakistan needs to build upon its good economic foundation taking additional bold measures to strengthen investor confidence”, she said before departing Pakistan.
For more information on the World Bank in Pakistan please visit: http://www.worldbank.org/pk
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