- Finance Minister Aurangzeb terms IMF, World Bank talks in Washington ‘positive and constructive’
- Credits reforms under IMF programme for stabilising Pakistan’s economy
- Says $1.2b tranche expected by December 31 to bolster external reserves, highlights rising US and Chinese investor interest in Pakistan
WASHINGTON: Federal Minister for Finance and Revenue Muhammad Aurangzeb has said that the International Monetary Fund (IMF) cannot impose any condition that goes against Pakistan’s national interest, asserting that ongoing reforms under the Fund programme have already begun to stabilise the economy.
Addressing a press conference in Washington, where he is attending the IMF–World Bank Annual Meetings, the minister said the government’s reform measures had restored macroeconomic stability and investor confidence. He termed the talks with the IMF and World Bank as “positive and productive.”
Aurangzeb confirmed that Pakistan expects to receive a $1.2 billion tranche from the IMF by December 31, adding that discussions were progressing smoothly under the current programme.
He said several American companies had shown a strong interest in investing in Pakistan, while Chinese investments would continue to create new development opportunities in the months ahead.
Earlier, speaking at the 15th V20 Ministerial Dialogue on “Cost of Capital, Debt & Growth Pathways,” held on the sidelines of the annual meetings, Aurangzeb reaffirmed Pakistan’s commitment to strengthening climate resilience and achieving sustainable growth.
He said Pakistan continues to bear the cost of the 2022 floods through its own resources while simultaneously funding reconstruction and relief activities. He appreciated the support of the CVF–V20 Secretariat in preparing Pakistan’s Climate Prosperity Plan, and noted that financing under the Country Partnership Framework was helping to operationalise the plan.
Calling for greater urgency on climate finance, the finance minister urged the early operationalisation of the Loss and Damage Fund and faster decision-making at the Green Climate Fund to ensure timely assistance for vulnerable nations.
On the sidelines of the meetings, Aurangzeb also met with Turkey’s Minister of Treasury and Finance, Mehmet Şimşek, where both sides reaffirmed their resolve to further strengthen Pakistan–Turkey economic relations and continue high-level bilateral engagement.
The finance minister briefed his Turkish counterpart on Pakistan’s ongoing reform agenda, including steps in tax policy, energy, state-owned enterprises, privatisation, and public finance management. He highlighted efforts to improve the tax-to-GDP ratio and integrate data systems across departments to enhance transparency and efficiency.
In a separate meeting with International Finance Corporation (IFC) Managing Director Makhtar Diop, Aurangzeb welcomed the IFC’s decision to designate Pakistan as a regional hub, calling it a “vote of confidence” in the country’s economy. He also updated the IFC chief on progress in the Reko Diq mining project, expressing hope that the EXIM Bank would soon join the venture.
