Washington: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, engaged in a significant meeting with H.E. Mr. Lan Fo’an, Minister of Finance of the People’s Republic of China, during the World Bank-IMF Spring Meetings 2026. The discussions reaffirmed the strategic partnership and economic cooperation between Pakistan and China.

According to Press Information Department, the Finance Minister expressed appreciation for China’s consistent bilateral support to Pakistan and the role of China’s Executive Director at the International Monetary Fund in facilitating Pakistan’s program engagements. Senator Aurangzeb updated his Chinese counterpart on Pakistan’s performance under the IMF program, highlighting the successful conclusion of agreements under the Extended Fund Facility and the Resilience and Sustainability Facility, with approval expected in early May.

The Finance Minister shared that Pakistan has repaid its USD 1.4 billion Eurobond and obtained additional financial support from Saudi Arabia to bolster its external position. He also discussed the progress of Pakistan’s first Panda bond issuance aimed at diversifying financing sources and increasing engagement with international capital markets.

Senator Aurangzeb emphasized the growing economic connections between Pakistan and China, noting the increase in trade settled in Renminbi and the need for an expanded currency swap arrangement. He acknowledged China’s recognition of Pakistan’s role in fostering regional dialogue and stability.

Reaffirming Pakistan’s dedication to regional cooperation, the Finance Minister expressed support for establishing the Shanghai Cooperation Organization Development Bank, as Pakistan prepares to assume the SCO Presidency in September. The meeting concluded with appreciation for the ongoing support from China’s Executive Directors at the IMF and the World Bank.