WASHINGTON – As part of Pakistan’s ongoing efforts to stabilize its economy and enhance financial resilience, Federal Finance Minister Muhammad Aurangzeb held a series of high-level meetings on the sidelines of the World Bank/International Monetary Fund (WB/IMF) Spring Meetings 2025 in Washington, D.C.
Key Meeting with IMF Managing Director
During his meeting with IMF Managing Director Kristalina Georgieva, Minister Aurangzeb reiterated the government’s strong commitment to economic reforms. He expressed appreciation for the recent Staff-Level Agreement on the first review under the Extended Fund Facility (EFF) and for the new arrangement under the Resilience and Sustainability Facility (RSF).
This engagement follows Islamabad’s agreement last month on a $1.3 billion climate-focused programme and the first review of the ongoing $7 billion, 37-month bailout plan under the EFF. Upon IMF Board approval, Pakistan is expected to receive an additional $1 billion, bringing total disbursements to around $2 billion.
Productive Talks with World Bank and US Treasury
The finance minister also met with World Bank Group President Ajay Banga, where he thanked the Bank for its continued support to Pakistan. He praised the development of a decade-long Country Partnership Framework (CPF) aimed at delivering tangible outcomes across critical sectors.
In a separate meeting with US Treasury Assistant Secretary Robert Kaproth, Aurangzeb provided an update on Pakistan’s macroeconomic recovery and ongoing reforms in key sectors such as:
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Taxation
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Energy
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Privatisation
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State-owned enterprises (SOEs)
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Pension system
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Debt management
Focus on Private Sector and Investment
Aurangzeb also engaged in a detailed discussion with International Finance Corporation (IFC) Regional Vice President Hela Cheikhrouhou, focusing on private sector reforms, clean energy transition, municipal finance, and employment generation.
A major point of discussion was the Reko Diq Copper and Gold Mine Project in Balochistan. The finance minister lauded the IFC’s pivotal role in mobilizing $2.5 billion in debt financing for the project, which is seen as a key investment for Pakistan’s future.
US-Pakistan Business Engagement
The Pakistani delegation also attended a luncheon hosted by the US-Pakistan Business Council at the US Chamber of Commerce. Minister Aurangzeb highlighted improving macroeconomic indicators and underlined Pakistan’s focus on regional trade integration and sectoral diversification.
He assured corporate leaders of the country’s commitment to fostering a business-friendly environment and implementing reforms to attract foreign investment.
Moving Towards Sustainable Growth
During all engagements, the finance minister emphasized that Pakistan is pursuing a clear path toward sustainable macroeconomic stability and resilience against climate change. With a focus on reforms and international collaboration, Pakistan aims to secure long-term growth and development.
