T.O
Age: 124
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G-7 invites Shaukat for meeting in Dubai
AHMED MUKHTAR
ISLAMABAD (September 15 2003): The G-7 finance ministers for the first time in history have invited Finance Minister Shaukat Aziz for a meeting on the sidelines of annual meeting of the International Monetary Fund and the World Bank in Dubai.
In each IMF and WB meeting Finance Ministers of the G-7 sit and discuss some major issues faced by world's major economies.
The meeting is to be held on September 21-23. China, India and Russia had been previously invited to G-7 meeting.
The US, UK, France, Germany, Canada, Italy and Japan are the members of G-7.
Great interest is being shown by Fund managers from all over the world to get the contract of lead manager. They are briefing the Finance Ministry officials in this regard for the last two months.
The final decision in this regard would be taken after the Dubai meeting.
Another good omen for the country's economic managers is that the world-renowned magazine 'Institutional Investors', on the occasion of the Dubai WB, IMF meeting is coming out with an issue having major interview of President Pervez Musharraf.
Pakistan is likely to issue $ 500 million worth 'dollar bonds' in order to get associated with the international financial market after getting out of IMF Poverty Reduction and Growth Facility (PRGF) in December 2004.
Pakistan would continue taking loans from World Bank and Asian Development Bank but would not be taking IMF programme. This decision basically came from the government after accumulating a good amount of forex reserves.
