Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, engaged in a series of high-level meetings and multilateral discussions on the third day of the IMF–World Bank Spring Meetings in Washington DC, underscoring Pakistan’s continued economic stabilization, reform trajectory, and proactive role in global economic and climate discourse.
According to a press release issued by finance ministry here Thursday, the minister, on the sidelines of the launch of the Borrowers’ Platform, met António Guterres, Secretary-General of the United Nations and appreciated his participation in the launch and acknowledged his support for the creation of the platform.
The two leaders exchanged views on the global economic implications of the evolving situation in the Middle East, particularly its impact on food and energy security in developing countries. The Secretary-General commended Pakistan’s constructive role in promoting peace and stability in the region and beyond.
Aurangzeb participated in the 15th Ministerial Meeting of the Coalition of Finance Ministers for Climate Action (CFMCA), held under the theme “Climate Action as an Engine of Growth, Jobs and Competitiveness.”
In his intervention, he highlighted Pakistan’s enhanced fiscal resilience, noting that while the country required international assistance during the devastating floods of 2022, it was able to mobilize domestic resources to respond to a similar climate shock in 2025—reflecting strengthened fiscal buffers.
He outlined key initiatives to green Pakistan’s financial architecture, including the State Bank’s Green Taxonomy Guidelines, and emphasized Pakistan’s growing renewable energy capacity, with 8,000 MW of installed solar power and a target to achieve 90% renewable energy generation within the next decade.
He also expressed appreciation for international partners, particularly the IMF’s Resilience and Sustainability Facility (RSF) and the World Bank’s Country Partnership Framework.
Addressing a policy forum at the Atlantic Council, the Finance Minister spoke on “Pakistan’s Path to Reform and Resilience.” He underscored Pakistan’s emergence as a responsible and constructive global actor, including its role in facilitating a ceasefire between the United States and Iran.
On the economic front, he highlighted significant macroeconomic stabilization achieved through disciplined fiscal management and the ongoing IMF-supported reform programme.
He reaffirmed Pakistan’s commitment to meeting its sovereign obligations and outlined progress on structural reforms, including privatization, rightsizing of federal ministries, and strengthening public financial management.
The Minister also emphasized Pakistan’s digital transformation agenda aimed at improving governance, reducing leakages, and enhancing service delivery. He noted a strategic shift in Pakistan–U.S. relations from an aid-based to a trade-based partnership, with growing engagement in critical minerals and infrastructure.
In meetings with global financial institutions, the Finance Minister held constructive discussions with Fitch Ratings, thanking them for reaffirming Pakistan’s B- credit rating and acknowledging their continued engagement.
He highlighted the Staff-Level Agreement reached with the IMF for the third review under the Extended Fund Facility (EFF) and the second review under the RSF, while noting that Pakistan has secured sufficient external financing to meet its FY2026 obligations.
He also outlined the government’s strategy to diversify its presence in international capital markets through instruments including Panda Bonds, Eurobonds, International Sukuk, and ESG bonds.
Aurangzeb participated in a high-level session convened by the IMF Managing Director with finance ministers and central bank governors from the MENAP region. He characterized the ongoing Middle East crisis as a major global supply shock and detailed Pakistan’s policy response, including adjustments in procurement, pricing, and logistics, alongside a transition toward targeted subsidies to protect vulnerable populations.
He emphasized the government’s continued coordination with the State Bank of Pakistan to assess second- and third-order macroeconomic impacts while reaffirming commitment to sustained reforms and macroeconomic stability.
At the launch of the Borrowers’ Platform, the Finance Minister underscored the urgent challenges faced by developing economies amid rising borrowing costs and constrained fiscal space. He emphasized that the platform fills a critical gap by providing a voluntary, member-driven forum for experience-sharing and amplifying the collective voice of borrowing nations in global financial governance.
He acknowledged the leadership of Egypt and the advocacy of the UN Secretary-General for reforming the global financial architecture.
The minister held a bilateral meeting with Masato Kanda, President of the Asian Development Bank (ADB), where he highlighted the recently signed Country Partnership Strategy as a milestone in bilateral cooperation.
He appreciated ADB’s support, including credit enhancement for Pakistan’s inaugural Panda Bond, and discussed coordinated responses to ongoing global supply shocks. The Minister also extended an invitation to the ADB President to visit Pakistan.
In engagements with global investors, the Finance Minister met senior leadership of Franklin Templeton and JPMorgan Chase. He provided an update on Pakistan’s privatization programme, noting that nearly 30 state-owned enterprises have been transferred to the Privatization Commission, and outlined opportunities in the infrastructure, aviation, and energy sectors.
He highlighted Pakistan’s planned return to international capital markets through the Global Medium-Term Note (GMTN) programme and emphasized reforms in the financial sector, including the establishment of the Pakistan Virtual Assets Regulatory Authority (PVARA).
Addressing institutional investors at the Citi Macro Forum, the Finance Minister reaffirmed that Pakistan has reached a Staff-Level Agreement with the IMF, with Executive Board approval expected shortly.
He outlined the government’s comprehensive response to global supply shocks and highlighted emerging economic opportunities, including increased transit volumes at Karachi Port and the potential of Gwadar as a strategic trade corridor. He also emphasized the importance of building strategic reserves and accelerating the transition toward renewable energy.
Throughout the day’s engagements, the Finance Minister reiterated Pakistan’s commitment to sustaining macroeconomic stability, advancing structural reforms, and strengthening partnerships with international financial institutions and global investors.
Meanwhile, Managing Director IMF, Ms. Kristalina Georgieva appreciated Pakistan’s continued progress on economic reforms during her interaction with finance minister. In a statement shared on social media, the IMF Managing Director noted that Pakistan’s strong implementation of its reform programme has contributed to maintaining macroeconomic stability and building investor confidence.
Ms. Georgieva observed that sound economic policies, along with the continuation of deeper structural reforms, would be critical for sustaining economic growth and improving the welfare of the people of Pakistan
