Finance Minister Senator Muhammad Aurangzeb concluded his visit to Washington, DC, after a week of engagements at the IMF-World Bank Annual Meetings, where Pakistan secured a staff-level agreement for $1.2 billion from the International Monetary Fund.
Prime Minister Shehbaz Sharif confirmed the deal, expressing hope it would be Pakistan’s final IMF programme, saying, “the time has come to free ourselves from the burden of debt.” Upon board approval, Pakistan will access $1 billion under the EFF and $200 million under the RSF, bringing total disbursements under the $7 billion programme to $3.1 billion.
The IMF’s World Economic Outlook projects Pakistan’s economy to grow 3.6% in FY2026, up from 2.7% in FY2025, though it noted the estimate does not include the impact of the 2025 floods.
Aurangzeb met with Abu Dhabi Commercial Bank (ADCB) and JP Morgan to promote Pakistan’s Green Panda Bond and Global Medium-Term Note (GMTN) programme, alongside updates on the privatisation of PIA and the G2G sale of First Women Bank.
He said Pakistan was nearing financial close on the Reko Diq project and welcomed the expected participation of Exim Bank. The minister also urged both institutions to expand their exposure to Pakistan’s financial and digital sectors.
In meetings with Türkiye’s Treasury Minister Mehmet Şimşek and IFC Managing Director Makhtar Diop, Aurangzeb discussed reforms in taxation, SOEs, and public finance. He welcomed IFC’s decision to upgrade Pakistan as a regional hub and witnessed the signing of a Swap Agreement between the State Bank of Pakistan and IFC.
Speaking at the 15th V20 Ministerial Dialogue, the minister called for the rapid operationalization of the Loss and Damage Fund and faster decision-making under the Green Climate Fund (GCF). He said Pakistan’s Climate Prosperity Plan (CPP) would be supported through funding available under the Country Partnership Framework (CPF).
Concluding his visit, Aurangzeb briefed US-based Pakistani media on his meetings with international institutions and investors, reaffirming Pakistan’s commitment to economic reform, fiscal discipline, and sustainable growth.
