Washington, D.C: Finance Minister Senator Muhammad Aurangzeb wrapped up a series of high-level engagements at the International Monetary Fund and World Bank Group Spring Meetings in Washington, D.C., aimed at advancing Pakistan’s economic goals and strengthening international alliances. The final day comprised crucial meetings with representatives from global financial institutions, development partners, and private sector stakeholders.
According to Press Information Department, during a meeting with Francis Brooke, Deputy Secretary at the U.S. Department of the Treasury, Aurangzeb shared Pakistan’s progress on macroeconomic stabilization and discussed investment opportunities in minerals and energy. They also explored cooperation avenues in energy and mineral development alongside efforts to bolster anti-money laundering frameworks. Aurangzeb emphasized the importance of continued U.S. support for Pakistan’s IMF program.
In discussions with Dr. Kalpana Kochhar of the Bill and Melinda Gates Foundation, Aurangzeb reiterated Pakistan’s commitment to polio eradication and ongoing reforms at the Federal Board of Revenue. The conversation highlighted the need for additional vaccine financing support and reinforced the value of bilateral ties with the Islamic Development Bank.
The Finance Minister also engaged with Jenny Chapman from the United Kingdom, discussing Pakistan’s current account surplus and fiscal commitments. The meeting covered Pakistan’s economic responses to energy price shocks and highlighted recent flood relief efforts funded domestically. Aurangzeb acknowledged the UK’s support through the Foreign, Commonwealth and Development Office.
Aurangzeb’s meeting with Shohei Hara from the Japan International Cooperation Agency marked the resumption of JICA’s lending portfolio in Pakistan. Both parties agreed to reverse the negative net disbursement trend, focusing on health, education, and development impact through blended financing models.
In a discussion with Zou Jiayi of the Asian Infrastructure Investment Bank, Aurangzeb appreciated the AIIB’s $1.7 billion portfolio in Pakistan. He invited the AIIB to align future projects with Pakistan’s infrastructure priorities, emphasizing improved project implementation.
The Finance Minister also had constructive dialogues with Sand P Global Ratings and Citibank, discussing Pakistan’s recent IMF agreement, financial support from Saudi Arabia, and successful capital market returns. Aurangzeb expressed optimism for a credit rating upgrade given Pakistan’s improved economic fundamentals.
At a World Bank Group roundtable, Aurangzeb highlighted Pakistan’s digital transformation in social protection, showcasing the Benazir Income Support Programme’s advancements. He underscored the role of digital systems in financial inclusion and economic empowerment.
Aurangzeb’s engagements underscored Pakistan’s commitment to reform and its readiness to foster strong international partnerships for sustainable economic growth.