Washington (TDI): Amid efforts to stabilize the economy and improve financial indicators, Federal Finance Minister Muhammad Aurangzeb has reaffirmed the government’s commitment to reforms in a meeting with International Monetary Fund (IMF) Managing Director Kristalina Georgieva.
During his talks with the IMF head on the margins of the World Bank and IMF Spring Meetings 2025 in Washington, the Finance Minister expressed gratitude for the staff-level deal on the First Review under the Extended Fund Facility and a new arrangement under the Resilience and Sustainability Facility, The News reported.
The meeting comes against the backdrop of Aurangzeb’s trip to the US where he is set to hold important meetings having notable significance in relation to Pakistan’s economic revamp efforts.
In March, Pakistan reached an agreement with IMF for a new $1.3 billion arrangement and also agreed on the first review of the current 37-month bailout program of $7 billion.
Read More:Â IMF Flags Governance Flaws in Pakistan, Urges Reforms
The new 28-month agreement would back Islamabad’s efforts to mitigate and adapt to climate change.
Islamabad, after approval by the IMF board, will have access to about $1 billion under the EFF, bringing total disbursements under the program to nearly $2 billion.
Read More:Â Pakistan Secures $1.3B IMF Climate Loan
Aurangzeb also called on World Bank Group President Ajay Banga and thanked him for the bank’s historical support to Islamabad and for spearheading the conception and preparation of a decade-long CPF with a sharp focus on impacts and results, the Finance Ministry said in a statement.
During their meeting, the Minister gave a briefing of the macroeconomic turnaround achieved by Pakistan and further expressed Islamabad’s resolve to ensure sustainable macroeconomic stability.
