WASHINGTON: Pakistan and the International Monetary Fund (IMF) have reaffirmed their commitment to advancing the country’s economic reform agenda and ensuring macroeconomic stability during discussions held on the sidelines of the IMF and **World Bank Group Annual Meetings in Washington.
Federal Minister for Finance and Revenue Muhammad Aurangzeb met with Jihad Azour, Director of the IMF’s Middle East and Central Asia Department, as part of his six-day official visit to the United States. Both sides reviewed progress under the Second Review of the Extended Fund Facility (EFF) and underscored the need to sustain reforms and uphold fiscal discipline.
“The current momentum of reforms must be maintained to stabilize Pakistan’s economy and build resilience,” both parties emphasized during the meeting.
Focus on Reform Agenda and Fiscal Discipline
The discussions centered on Pakistan’s ongoing economic reforms, structural adjustments, and the importance of preserving macroeconomic stability. The IMF acknowledged the government’s recent steps to strengthen fiscal management and address structural challenges.
Aurangzeb also participated in the Commonwealth Finance Ministers’ Meeting, where he called for concrete actions to promote a resilient and prosperous Commonwealth. He expressed Pakistan’s support for operationalizing the Commonwealth Infrastructure and Financial Resilience Hub and the Technical Assistance Fund, while highlighting the urgency of climate financing and activation of the Loss and Damage Fund.
Meetings with World Bank and U.S. Treasury
In a separate meeting with Axel van Trotsenburg, Senior Managing Director of the World Bank, the Finance Minister appreciated the Bank’s support for Pakistan’s development agenda. He highlighted the devastating economic impact of recent floods, particularly on agriculture and GDP, and urged for increased investment in climate adaptation measures.
Aurangzeb also held talks with United States Department of the Treasury officials, including Robert Kaproth, Assistant Treasury Secretary for International Finance, and Counselor Jonathan Greenstein, focusing on economic reforms, private sector engagement, and U.S.–Pakistan trade relations.
Engagement with Business Community
The Minister was hosted by the U.S.-Pakistan Business Council (USPBC), where he briefed participants on Pakistan’s improving macroeconomic indicators and stressed the critical role of the private sector in sustaining growth. He discussed new trade opportunities in sectors such as mining, IT, pharmaceuticals, and agriculture, and assured that business concerns raised during the interactive Q&A session would be addressed.
He also met with representatives of Citigroup, acknowledging the bank’s longstanding partnership and highlighting Pakistan’s growing role as a regional hub for digital and financial services.
Support from Islamic Development Bank
In a meeting with Muhammad Sulaiman Al-Jasser, President of the Islamic Development Bank (IsDB), the Finance Minister reviewed the progress of ongoing projects in Pakistan and thanked the Bank for its continued support. Both sides discussed cooperation on polio eradication, the oil financing facility, and the new Country Engagement Framework (CEF). Aurangzeb also appreciated the financing approval for two sections of the M-6 Motorway project.
Strengthening Economic Partnerships
The series of high-level meetings reflect Pakistan’s strategic efforts to strengthen its economic partnerships, secure international support, and push forward its reform agenda. The Finance Minister emphasized that sustained macroeconomic discipline, private sector growth, and climate resilience remain at the heart of Pakistan’s development strategy.
