Pakistan’s Finance Minister, Senator Muhammad Aurangzeb, has reaffirmed the nation’s commitment to its economic reform agenda during a crucial meeting with the International Monetary Fund (IMF), signaling a determined effort to maintain macroeconomic stability amidst a series of high-level financial discussions.
In a key engagement on the sidelines of the IMF and World Bank Group (WBG) Annual Meetings, Senator Aurangzeb met with Jihad Azour, Director of the IMF’s Middle East and Central Asia Department. The dialogue reviewed progress under the Second Review of the Extended Fund Facility (EFF), with both sides acknowledging the importance of sustaining macroeconomic discipline and the current reform momentum, according to an official information today.
The Finance Minister also held extensive talks with Axel van Trotsenburg, Senior Managing Director of the World Bank Group, where he stressed that the climate crisis remains an existential challenge for Pakistan. Referencing the severe impact of recent floods on the agriculture sector and GDP growth, the minister underscored the necessity for enhanced investment in climate adaptation and for mobilizing additional resources to manage future natural calamities.
Addressing the Commonwealth Finance Ministers’ Meeting, Senator Aurangzeb advocated for prioritizing concrete actions to build a resilient and prosperous Commonwealth. He reiterated the urgent need to operationalize climate financing mechanisms, such as the Loss and Damage Fund, for developing countries like Pakistan.
In a bid to attract foreign investment, the minister engaged with the U.S.-Pakistan Business Council (USPBC), briefing its members on the positive trajectory of Pakistan”s macroeconomic indicators. He asserted that private sector growth is vital for sustaining economic momentum and highlighted opportunities in mining, agriculture, information technology, and pharmaceuticals.
During a productive session with U.S. Treasury officials, including Assistant Secretary Robert Kaproth, the minister pointed to Pakistan”s strong economic fundamentals. He welcomed the recent conclusion of a tariff deal with the U.S. and informed them of new legislation to regulate virtual assets.
Further strengthening institutional ties, Senator Aurangzeb met with Riccardo Puliti, Regional Vice President of the International Finance Corporation (IFC). Both parties agreed to expedite the financial closure of the flagship Reko Diq project, and the minister welcomed the establishment of a new IFC regional office in Islamabad. Discussions with Dr. Muhammad Sulaiman Al-Jasser, President of the Islamic Development Bank (IsDB), focused on accelerating the implementation of the bank”s project portfolio in Pakistan. Senator Aurangzeb expressed gratitude for financing approval for sections of the M-6 motorway and agreed on continued cooperation in areas like polio eradication.
The Finance Minister’s busy schedule also included meetings with representatives from Citi Bank and interviews with international media outlets, including the Associated Press and Reuters. The visit reflects the government”s resolve to deepen economic cooperation and steer Pakistan’s economy from stabilization toward sustainable and inclusive growth.