BANGKOK: Finance Minister Muhammad Aurangzeb, along with the Governor of the State Bank of Pakistan, engaged in discussions with representatives from Fitch Ratings regarding Pakistan’s economic performance and sovereign credit outlook. The meeting took place on the sidelines of the World Bank Group-IMF Annual Meetings in Bangkok, Thailand.

According to Radio Pakistan, the Finance Minister emphasized Pakistan’s restored access to international capital markets and efforts towards fiscal consolidation and achieving sustained primary surpluses. The discussions also addressed various economic indicators, including inflation trends, monetary policy, exchange rate stability, and the status of the current account deficit.

The Pakistani delegation informed Fitch about the country’s efforts in reserve accumulation, reducing forward liabilities, and strengthening external buffers to withstand economic shocks. The conversation also covered improving debt sustainability, declining servicing costs, longer borrowing maturities, and bilateral rollover assurances.

Moreover, the delegation reiterated its commitment to completing the IMF program, implementing structural reforms, and promoting export-led growth. The Finance Minister also sought Fitch’s assessment of the requirements necessary for Pakistan to progress towards the BB rating category, while discussing trade and investment engagement with the United States.