Finance Minister Aurangzeb pitches reforms, investment opportunities at IMF-WB meetings
Minister for Finance and Revenue Senator Muhammad Aurangzeb shakes hands withDeputy Secretary at the United States Department of the Treasury Francis Brooke, on the sidelines of the World Bank–IMF Spring Meetings in Washington, DC. Photo: X
Finance Minister Muhammad Aurangzeb held a series of high-level meetings with global financial institutions, development partners and private sector stakeholders on Saturday, aimed at advancing Pakistan’s economic priorities and strengthening international partnerships.
According to a press release issued by the Ministry of Finance, the minister held a meeting with officials of the United States Department of the Treasury on the sidelines of the International Monetary Fund-World Bank Spring Meetings in Washington, where both sides discussed avenues for cooperation and collaboration and reaffirmed the depth of bilateral economic engagement.
During a meeting with Deputy Secretary Francis Brooke, Aurangzeb shared Pakistan’s progress on macroeconomic stabilisation, re-entry into international capital markets and prudent external debt management. He also highlighted investment opportunities in the minerals and energy sectors and briefed the US side on efforts related to digital and virtual asset regulation.
Finance Minister Meets Francis Brooke, U.S. Department of the Treasury, on Economic Cooperation
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a productive meeting with Mr. Francis Brooke, Deputy Secretary at the United States Department of the… pic.twitter.com/STyz7IrE1Q“Pakistan has made significant progress on macroeconomic stabilisation and is committed to prudent external debt management,” the minister said, while underscoring the importance of continued US support for Pakistan’s IMF programme.
The two sides also discussed cooperation in energy and mineral development, as well as strengthening anti-money laundering and counter-financing of terrorism frameworks.
Separately, the minister met Kalpana Kochhar, president for global policy and advocacy at the Bill & Melinda Gates Foundation. Recalling his earlier engagement with Bill Gates, he reaffirmed the partnership between Pakistan and the foundation.
“Polio eradication remains a national priority requiring sustained support,” Aurangzeb said, while highlighting reforms at the Federal Board of Revenue, including digital compliance systems and capacity-building initiatives.
He also emphasised that the government aimed to “institutionalise durable reforms rather than pursue temporary fixes” and noted the need for additional support for vaccine financing beyond June-July.
In another meeting with Jenny Chapman, the minister reaffirmed Pakistan’s longstanding ties with the United Kingdom and said the country had recorded a current account surplus during the first nine months of the fiscal year.
“Pakistan remains firmly committed to meeting all fiscal targets by end-June,” he said, adding that the government had responded to the recent energy price shock through expenditure restraint, full price transmission and targeted subsidies.
On climate resilience, he said recent flood-related relief had been financed through Pakistan’s own fiscal resources, supported by stronger buffers, and highlighted the establishment of a forward-looking disaster management centre equipped with advanced technology.
Aurangzeb also met Shohei Hara, senior vice president of the Japan International Cooperation Agency, welcoming the resumption of its lending portfolio in Pakistan.
He expressed interest in leveraging Japan’s experience in health and education and exploring blended financing models, while assuring support in resolving operational issues concerning the Pakistan Institute of Medical Sciences and security scanners at Karachi Port.
In a separate meeting with Zou Jiayi, president of the Asian Infrastructure Investment Bank, the minister appreciated the bank’s engagement in Pakistan and highlighted the country’s planned inaugural Panda Bond issuance and recent Eurobond transaction.
Finance Minister Meets AIIB President, Discusses Infrastructure Financing and Strategic Engagement
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a productive meeting with Ms. Zou Jiayi, President of the Asian Infrastructure Investment Bank (AIIB), on… pic.twitter.com/UZ4CWI63BN“Pakistan’s improved macroeconomic fundamentals make a compelling case for a credit rating upgrade,” he said, while inviting AIIB to align future engagement with Pakistan’s infrastructure priorities.
During meetings with S&P Global Ratings and Citibank, the minister said Pakistan had concluded a staff-level agreement with the IMF, with board approval expected shortly, and highlighted the successful repayment of $1.4 billion in Eurobond obligations.
He outlined Pakistan’s medium-term borrowing strategy, including Eurobonds, Sukuk and rupee-linked dollar-settled instruments, and briefed participants on progress towards the inaugural Panda Bond.
Aurangzeb also participated in a high-level roundtable organised by the World Bank Group on digital social protection, where he highlighted Pakistan’s digital public infrastructure and transformation of the Benazir Income Support Programme.
Finance Minister Meets S&P Global, Highlights Improved Fundamentals and Market Re-engagement Strategy
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a constructive meeting with representatives of S&P Global Ratings on the sidelines of the World… pic.twitter.com/3ZiePRqWLQ“Digital social protection is not merely a payment mechanism but a powerful tool for financial inclusion and economic empowerment,” he said, particularly for women entering the formal financial system.
Earlier, the minister also interacted with Pakistani media in Washington, briefing them on the outcomes of his visit and Pakistan’s improving economic outlook.
The engagements marked the final day of the Spring Meetings, reflecting Pakistan’s efforts to strengthen international partnerships and advance economic reforms.