WASHINGTON: Finance Minister Muhammad Aurangzeb began a series of high-level meetings in Washington on Monday by engaging with the heads of the International Monetary Fund (IMF) and the World Bank, focusing on Pakistan’s economic recovery and reform agenda.
The meetings are part of the 2025 Spring Meetings of the IMF and World Bank Group, where finance ministers and central bank governors from 191 countries are gathering to tackle global challenges like sovereign debt, climate finance, and reforms to the international financial system.
Leading Pakistan’s delegation, Aurangzeb held constructive discussions with IMF Managing Director Kristalina Georgieva and World Bank President Ajay Banga. Talks centered on ongoing financial programmes, structural reforms, and the next phase of Pakistan’s economic strategy.
Pakistan is currently seeking the release of a $1 billion tranche from the IMF’s $7 billion Extended Fund Facility. An IMF review team is scheduled to visit Islamabad on May 14.
Aurangzeb also met with Banga to discuss development financing and medium-term priorities, including fiscal stability and energy sector reforms.
Since arriving in Washington on Sunday, the finance minister has held multiple meetings, with more scheduled in the coming days. These include talks with officials from China, the U.S., Saudi Arabia, the UAE, and European nations, as well as with commercial banks, credit rating agencies, and institutions like the Asian Development Bank.
A key meeting later this week with Chinese Finance Minister Lan Fo’an will focus on Pakistan’s request to reschedule $3.4 billion in debt to ease foreign financing pressures.
Aurangzeb is also set to meet senior U.S. Treasury officials and leaders at the U.S. Exim Bank, where discussions will include a $3 billion financing gap for the Reko Diq copper and gold project. Exim Bank has shown interest in providing $1 billion, contingent on preferential creditor status — a condition Pakistan has yet to accept.
In addition, the finance minister will meet Climate Vulnerable Forum Secretary General Mohamed Nasheed to explore climate finance and disaster resilience strategies.
On Monday, he also briefed Deloitte representatives on Pakistan’s economic outlook, development goals, and export-led growth strategy. Topics included energy sector reform, critical mineral extraction, privatization, crypto regulation, and the Country Partnership Framework. Deloitte is planning a visit to Pakistan in May 2025.
Officials say Pakistan’s goal is not only to secure financial support but to build long-term partnerships that reinforce sustainable reforms.
