Aurangzeb Heads to Washington for IMF and World Bank Talks Amid Bailout Push
Finance Minister Muhammad Aurangzeb has left for the United States to attend key meetings with the International Monetary Fund (IMF) and the World Bank. His visit marks a crucial step as Pakistan seeks another bailout and aims to strengthen its economic recovery.
The Ministry of Finance said Aurangzeb will attend the annual meetings of both global lenders in Washington. His trip follows a recent IMF mission led by Iva Petrova, which visited Karachi and Islamabad from September 24 to October 8.
Both sides completed discussions on the $7 billion Extended Fund Facility (EFF) and the $1.4 billion Resilience and Sustainability Facility (RSF). Pakistan also aims to secure a $400 million tranche under the RSF.
Aurangzeb expressed optimism that Pakistan could reach a staff-level agreement with the IMF during his visit. He said ongoing reforms and fiscal discipline have built a strong case for further financial support.
Busy Diplomatic Schedule
During his six-day stay, Aurangzeb will meet senior officials from the IMF, World Bank, International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA). He will also hold one-on-one meetings with World Bank President Ajay Banga and IMF Managing Director Kristalina Georgieva.
The finance minister will represent Pakistan at the G24 and MENAP meetings, where he will deliver a keynote address. He will also join a World Bank roundtable on digital transformation in the Federal Board of Revenue (FBR).
Aurangzeb will participate in two major World Economic Forum (WEF) events and meet counterparts from China, the UK, Saudi Arabia, Turkiye, and Azerbaijan. His agenda includes meetings with US officials, credit rating agencies, and global banks to promote investment opportunities in Pakistan.
He will also engage with the US-Pakistan Business Council to discuss new tax proposals and encourage trade partnerships. In addition, Aurangzeb will speak at leading US think tanks such as the Atlantic Council and the Peterson Institute of International Economics.
According to the finance ministry, Aurangzeb will attend over 65 meetings, forums, and events during his visit. He will also give interviews to international media to highlight Pakistan’s economic progress and reform efforts.
