Finance Minister Muhammad Aurangzeb, who is currently in Washington, met with International Monetary Fund (IMF) Middle East and Central Asia Department Director Jihad Azour and the two exchanged views on Pakistan’s reform agenda, a press release issued on Tuesday said.

A press release by the Finance Division said that the finance minister had a “busy first day” of his official visit to the United States, attending high-level meetings on the sidelines of the annual meetings of the IMF and the World Bank (WB) in Washington, DC.

“The finance minister and his delegation had a key meeting with Azour. Both sides exchanged views on Pakistan’s reform agenda and reaffirmed their shared commitment to sustaining the current momentum of reforms,” the press release said.

It added that the meeting also reviewed progress under the
second review of the Extended Fund Facility (EFF) and acknowledged the “importance of maintaining macroeconomic discipline”.

In a separate meeting, Aurangzeb had “extensive engagement” with the WB Senior Managing Director Axel van Trotsenburg, where he appreciated the Bank’s continued commitment to Pakistan’s national development agenda.

“The minister reiterated that the climate crisis remains an existential challenge for Pakistan, referencing the devastation caused by recent floods and their severe impact on the agriculture sector and GDP growth,” the statement said.

“He emphasised the need for enhanced investment in climate adaptation and mitigation measures and agreed on the importance of mobilising additional resources to manage future natural calamities,” it said.

The minister is visiting the US capital for the IMF and WB plenary meetings from October 13 to 18. The meetings bring together global finance ministers, central bankers and development leaders, offering Pakistan a crucial platform to secure the next IMF tranche, advance economic reforms, and engage international partners on growth, investment, and resilience.

Aurangzeb’s visit comes after a IMF mission concluded talks with Pakistani authorities on reviews of two lending programmes totalling $8.4 billion without announcing a staff-level agreement (SLA).

Before leaving for the US, the finance minister had expressed optimism that the SLA with the IMF would be finalised during his visit to Washington.

More meetings in Washington

According to the press release issued by the Finance Division, Aurangzeb also attended the Commonwealth Finance Ministers’ Meeting and underscored the importance of “prioritising concrete actions to advance a resilient and prosperous Commonwealth”.

He voiced support for the operationalisation of the Commonwealth Infrastructure and Financial Resilience Hub, as well as the Technical Assistance Fund for peer review and capacity building.

He reiterated the central importance of climate financing for developing countries like Pakistan and emphasised the urgent need to operationalise mechanisms such as the Loss and Damage Fund, the statement said.

Aurangzeb was also hosted by the leadership and members of the US-Pakistan Business Council (USPBC). He briefed participants on the positive trajectory of Pakistan’s macroeconomic indicators, calling private sector growth “vital to sustaining economic momentum”.

According to the press release, he reaffirmed the government’s commitment to addressing business challenges and providing maximum relief, highlighting the recent trade deal with the US authorities and “expressing optimism for enhanced government-to-government and business-to-business engagements in key sectors, including mining, agriculture, information technology, and pharmaceuticals”.

The statement added that earlier, Aurangzeb also met with Robert Kaproth, US assistant treasury secretary for international finance, and Counselor Jonathan Greenstein. During the discussion, he highlighted the “strong economic fundamentals” of Pakistan, underpinned by the ongoing IMF programme.

He welcomed the successful conclusion of negotiations with the US administration leading to a tariff deal and apprised the officials about Pakistan’s recent legislation to regulate virtual assets. He further invited US companies to explore investment opportunities in Pakistan’s oil and gas, mineral, agriculture, and information technology sectors, the release said.

The finance minister also met with Riccardo Puliti, Regional Vice President of the International Finance Corporation (IFC) for the Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan; as well as the Islamic Development Bank’s (IsDB) President Muhammad Sulaiman Al-Jasser.

Aurangzeb also met with representatives of Citi Bank, where he “acknowledged Citi’s longstanding partnership with Pakistan and appreciated its continued engagement”.

“The minister shared an overview of Pakistan’s stabilising macroeconomic outlook, driven by ongoing structural reforms and validated by international credit rating agencies. He also highlighted Pakistan’s growing role as a regional hub for digital innovation and financial services, assuring that the government would give due consideration to Citi’s proposals,” the statement said.

The statement added that the minister also interacted with US and international media, including interviews with the Associated Press and Reuters, and attended a dinner in the honour of the Pakistan delegation by Pakistan’s US ambassador, Rizwan Saeed Sheikh.

“The finance minister’s engagements in Washington, DC reflect the government’s resolve to deepen economic cooperation, strengthen partnerships with international financial institutions, and accelerate Pakistan’s transition from stabilisation to sustainable, inclusive growth,” the statement said.

“The visit aims to further strengthen Pakistan’s engagement with key international financial institutions, development partners, and private sector stakeholders,” it added.

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