ISLAMABAD: Pakistan has successfully navigated its way from the brink of an economic crisis to a period of stabilization and is now firmly on the right trajectory toward sustainable growth, according to the World Bank’s top official in the country.
Speaking in an interview on Pakistan TV Digital’s South Speaks with Saqib, World Bank Country Director for Pakistan Bolormaa Amgaabazar praised Islamabad’s recent economic turnaround, highlighting country’s upgraded S&P investment rating to B level and commended ongoing reforms across the trade and finance sectors.
"Pakistan achieved a lot in the last couple of years. As you mentioned, it was at the brink of a major crisis," Amgaabazar said.
"Stabilization is now in place [...] I believe that Pakistan is on the right trajectory."
To support this momentum, the World Bank has committed to a 10-year, $20 billion Country Partnership Framework.
The comprehensive plan targets six vital areas: reducing child stunting, curbing learning poverty for 26 million out-of-school children, advancing clean energy, building climate resilience, ensuring macroeconomic stability, and empowering the private sector.
Amgaabazar emphasized that stabilization is only the foundation. With millions of youth entering the workforce, she noted that the government's recent budget, which promotes export-oriented businesses, cuts targeted taxes, and invites foreign direct investment, is crucial for translating stability into job creation.
If provided with health and education, she noted, this young demographic dividend will be a tremendous gain for the economy.
The World Bank official also lauded Pakistan’s global leadership in climate resilience and infrastructure innovation, citing engineering ingenuity at the Dasu hydropower plant and the post-2022 flood reconstruction in Sindh as global models.
In Sindh, 2 million climate-resilient homes are being built, with land titles notably registered in the names of female family members.
"These are features that are really putting Pakistan in the front line of anybody who wants to learn about reconstruction of housing after natural disasters," she said.
Addressing the World Bank’s recent administrative shift moving Pakistan into the Middle East, North Africa, Afghanistan, and Pakistan (MENAAP) region, Amgaabazar described it as a prime opportunity for cross-learning with advanced Gulf nations.
Dismissing historic skepticism of Pakistan’s economic boom-and-bust cycles, Amgaabazar expressed hope in the current outlook.
"The stabilization in the last two years has been very strong and, I hope, permanent," she concluded.
"The outlook is optimistic, and we're happy to support the government in its journey."
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