11 April 2005	Monday	01 Rabi-ul-Awwal 1426

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WASHINGTON, April 10: The spring meetings of the World Bank and the IMF being held on April 16 and 17 are significant for Pakistan on more than one count. Pakistan’s finance delegation, led by Dr Salman Shah, adviser to the prime minister on finance and economic affairs, is scheduled to arrive here on April 14. The delegation, besides representing Pakistan at the spring meetings, development committee and bilateral meetings, will have a chance for having “a couple of meetings with various relevant agencies, organizations and departments of the United States and international financial institutions”.

The delegation will comprise SBP Governor Dr Ishrat Hussain, Finance Secretary Naveed Ahsan and adviser to the ministry Dr Ashfaque Hassan Khan.

The spring meetings are taking place as Pakistan has made good progress in the economic and finance fields.

Sources said that the added significance for Pakistan is the fact that the World Bank is going to have a new president from June 1 as Paul Wolfowitz has been elected to the high post, replacing James D. Wolfensohn.

“Before he takes over, our finance delegation will have a chance to meet Wolfowitz, who is a close friend of Pakistan,” official sources stated.

The sources, referring to the close association of Mr Wolfowitz with the US administration, said: “It would be of great help to the World Bank to pursue its agenda of millennium development goals regarding poverty alleviation which was set by outgoing WB President James Wolfensohn in Monterey and the United Nations. It is of great importance that our delegation should come, and this time, in fact, we are also going to have a new elected director in the Bank. He will have a chance to meet the new WB president as well.

“So, before Wolfowitz takes over, Pakistan’s finance delegation will have a chance to meet with him, and look forward to their demands and their requirements for soft money - which is International Development Agency money.”

The World Bank and the IMF hold annual and spring meetings, and the last annual meeting was held on October 2 and 3 in Washington.

On the other hand, Dr Salman Shah and Dr Ishrat Hussain will be speaking at a seminar on education and development being held at the Woodrow Wilson International Center for Scholars on April 14.

On April 15, Dr Salman and Dr Ishrat will participate in a discussion on ‘Pakistan’s Economic Strategy and Second Generation Reforms’ being held at the Pakistan Embassy. It will be followed by a reception being hosted by Ambassador Jehangir Karamat.—APP