Washington DC, During a series of high-level meetings at the JP Morgan Seminar and the IMF/World Bank 2024 Spring Meetings, Pakistan’s Finance Minister Mr. Muhammad Aurangzeb presented the country’s economic policy outlook, emphasizing robust agriculture performance, stable economic indicators, and an aggressive reform agenda.
According to Press Information Department, Mr. Aurangzeb engaged in discussions aimed at enhancing economic stability and sustainable development in Pakistan. He outlined the progress made under a 9-month Stand-by Arrangement (SBA) with the IMF and affirmed Pakistan’s commitment to a more extensive and prolonged program with the fund. In a key meeting with the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) Ministers and Governors alongside IMF Managing Director Ms. Kristalina Georgieva, the Minister highlighted Pakistan’s strategies to handle geo-economic fragmentation and called for enhanced global financial safety measures.
During his meeting with Mr. Donald Lu and Ms. Elizabeth Horst from the US State Department, the focus was on strengthening Pak-US economic ties, particularly in alternate energy, agriculture, climate resilience, and the tech industry. The Finance Minister detailed Pakistan’s reform priorities including tax base broadening, energy sector streamlining, and acceleration of state-owned enterprises’ privatization.
Furthermore, Mr. Aurangzeb discussed bilateral economic cooperation with UAE’s Minister of State for Financial Affairs H.E. Mohamed bin Hadi Al Hussaini, expressing gratitude for the UAE’s continued support and shared intentions to deepen economic links. The Minister also met with Mr. Hiroshi Matano from the Multilateral Investment Guarantee Agency, emphasizing ongoing efforts to attract foreign direct investment and improve the business environment in Pakistan.
Other notable engagements included discussions with representatives from Deutsche Bank on developing a Sustainable Finance Framework and interactions with international media at Bloomberg Headquarters, underscoring Pakistan’s proactive approach to economic challenges and opportunities for growth through international cooperation.