WASHINGTON, July 26: Adviser to the Prime Minister on Finance Dr Salman Shah briefed the World Bank on Wednesday on the economic performance of Pakistan. Macro indicators of the country’s economy, like GDP growth, declining of public debt-to-GDP ratio, declining inflation and balance of payment surpluses were also discussed.

Global depository receipt issues of OGDC that will be listed on the London Stock Exchange came under discussion as well. GDR is a bank certificate issued in more than one country for shares in a foreign country.

World Bank Acting President Graham Wheeler led the bank team.

“The World Bank team appreciated Pakistan’s significance progress and consistency in economic and fiscal policies,” Dr Shah later told reporters.

He said the World Bank assured ‘total support’ for the development of Pakistan which was reflected in the country’s programme for the next three years pitched at $6.5 billion.

The World Bank acting president assured that the bank would assist Pakistan in the efficient implementation of the bank’s enhanced programme in the country, Dr Shah said.

Mr Wheeler told the Pakistani delegation that the bank was selecting a new country team for Pakistan which would be in place before the end of this year.

The Pakistan delegation and the World Bank team also discussed national and transport corridor projects and the Indus river water and storage reservoir projects.

The bank’s report on the framework for the Indus River Waters Development will be presented to the government of Pakistan by the World Bank mission that will visit Pakistan shortly.

The World Bank acting president was assisted by the Vice-President South Asia, Director for Asia and Country Director for Pakistan, John Wall. Pakistan Ambassador Mahmud Ali Durrani was also present in the meeting.