Finance Minister highlights Pakistan’s economic progress in key meetings at IMF-World bank spring

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a series of high-level meetings with major global financial institutions and companies during the IMF and World Bank Spring Meetings in the United States.

The discussions focused on Pakistan’s improving economic indicators, efforts to attract investment, and plans to re-enter international capital markets. During a meeting with the J.P. Morgan team, the Finance Minister stressed the importance of sustainable development for economic stability and highlighted the government’s initiatives to diversify markets and sectors. He also shared updates on the Reko Diq project.

Senator Aurangzeb confirmed the government’s intention to re-enter international capital markets through the issuance of Panda Bonds.

In a separate meeting with Dev Jagadesan, Acting CEO of the U.S. International Development Finance Corporation (USDFC), the Finance Minister discussed enhancing economic cooperation between Pakistan and the U.S., including opportunities tied to the Reko Diq project and broader investment avenues. He appreciated U.S. participation in the Pakistan Minerals Investment Forum and emphasized the need to deepen mutual collaboration.

While participating in an IMF panel discussion, Senator Aurangzeb underlined the importance of regional trade and export-led growth, describing the IT sector as a “game changer” for Pakistan’s economy. He also emphasized the need for integrating digital systems into public institutions.

In a meeting with IFC Managing Director Makhtar Diop, the Finance Minister attributed Pakistan’s stronger economic indicators and credit rating improvements to recent government reforms. He praised the fast-tracking of the Karachi Airport project and acknowledged IFC’s support in Reko Diq.

Additionally, Senator Aurangzeb met with Baroness Chapman, the UK’s Minister of State for International Development, where he stressed the importance of reducing direct human interaction between taxpayers and tax collectors through the use of technology. He also commended the role of REMIT in reviewing development aid and strengthening communication strategies.

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