Finance Minister Muhammad Aurangzeb is all set for a crucial series of meetings during his visit to Washington, as he departed for the United States on Saturday to attend the 2025 World Bank Group and International Monetary Fund (IMF) Spring Meetings, which will run from April 21 to April 26.
During his visit, the finance minister is scheduled to meet with senior officials from the World Bank, the IMF, global credit rating agencies, and commercial and investment banks.
According to media reports, his primary agenda will include discussions on rescheduling Pakistan’s debt with China and securing further cooperation from international financial institutions.
Aurangzeb will meet with China’s Finance Minister Lan Fo’an to discuss Pakistan’s request to reschedule $3.4 billion in debt, a move intended to ease Pakistan’s foreign financing gap. This request follows prior efforts by Deputy Prime Minister Ishaq Dar in Beijing, which have yet to be resolved.
Additionally, Pakistan will push for an agreement on annual tax revenue targets and development budgets with the IMF, whose mission will arrive in Pakistan on May 14.
The finance minister will also attend meetings with senior US Treasury officials, including Robert Kaproth, Assistant Secretary for International Finance, and James C. Cruse, Acting President of the US Exim Bank.
Aurangzeb will discuss funding for Pakistan’s ongoing projects, including the $3 billion financing gap for the Reko Diq copper and gold mines.
The US Exim Bank has expressed interest in providing $1 billion in loans for the project, contingent on preferential creditor status, which Pakistan has yet to accept.
In addition, Aurangzeb will meet with the IMF Managing Director, Kristalina Georgieva, to review progress on the $7 billion IMF programme, which includes a $1 billion second tranche for Pakistan.
He is also expected to meet key figures from the World Bank and the Asian Development Bank, including Masato Kanda and Ajay Banga, to discuss Pakistan’s economic recovery and future prospects.
Other important engagements include discussions with Mohamed Nasheed, Secretary General of the Climate Vulnerable Forum (V20), focused on climate finance and disaster resilience.
Aurangzeb will also participate in a panel on Pakistan’s medium-term revenue mobilisation strategy, addressing the challenges of raising taxes in a way that reduces the burden on the salaried class while tackling non-compliance in the informal sector.
