Washington DC (TDI): Pakistan’s Finance Minister, Muhammad Aurangzeb, held a series of high-level meetings this week with international financial institutions and global stakeholders on the sidelines of the IMF and World Bank Spring Meetings.
He emphasized the country’s ongoing economic reforms, commitment to sustainability, and renewed engagement with capital markets.
At the Vulnerable Twenty (V20) Ministerial Dialogue, held under the theme “Enabling Climate Prosperity,” the Finance Minister outlined Pakistan’s evolving climate policy framework. He announced the development of a Climate Prosperity Plan and the rollout of Pakistan’s Climate Financial Strategy.
In his statement at the Vulnerable 20 (V20) Ministerial Dialogue on the theme of “Enabling Climate Prosperity,” Finance Minister highlighted the roll-out of Climate Financial Strategy for Pakistan. Added that the country is developing a Climate Prosperty Plan and had reached a… pic.twitter.com/hRusU0ixsB
— Pakistan Embassy US (@PakinUSA) April 25, 2025
He also referred to the IMF’s new RSF agreement and highlighted the World Bank’s recently approved 10-year Country Partnership Framework (CPF) for Pakistan, which prioritizes climate resilience and decarbonization.
The Minister stressed the need for international financial reforms to better support climate-vulnerable nations and emphasized the importance of building national capacity to design and implement investable climate projects.
Furthermore, in a meeting with Roberto Hoornweg, a senior representative of Standard Chartered Bank, the Finance Minister expressed appreciation for the Bank’s support during a critical period in helping bridge Pakistan’s financing gap.
Finance Minister held a meeting with a team of Standard Chartered Bank led by Mr. Roberto Hoornweg. Thanked the Bank for stepping up to bridge the financing gap at a crucial time. Briefed on the macroeconomic outlook and privatization programme of the government. Expressed the… pic.twitter.com/MaoLgxoJzs
— Pakistan Embassy US (@PakinUSA) April 25, 2025
He provided an overview of the country’s macroeconomic outlook and the Government’s privatization program, while also expressing Pakistan’s intent to return to international capital markets, leveraging the recent sovereign credit ratings upgrade by Fitch as a sign of strengthened investor confidence.
Separately, the Finance Minister met with Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF).
During the discussion, he thanked the IMF for finalizing a Staff-Level Agreement on the first review under Pakistan’s Extended Fund Facility (EFF), along with a new arrangement under the Resilience and Sustainability Facility (RSF).
The Minister reiterated the Government’s continued commitment to maintaining reform momentum and ensuring macroeconomic stability, describing Fitch’s credit rating upgrade as an external validation of progress made over the past 18 months.
Finance Minister engaged with members of Pakistan Bank-Fund Staff Association (PBFSA). Briefed them on the improving macroeconomic indicators of the country. Informed that the country had reached a staff-level agreement on the first review under Pakistan’s Extended Fund Facility… pic.twitter.com/J8GNGouo5k
— Pakistan Embassy US (@PakinUSA) April 25, 2025
Additionally, the Finance Minister engaged with members of the Pakistan Bank-Fund Staff Association (PBFSA), where he briefed them on the improving macroeconomic indicators and policy direction.
He reaffirmed the government’s focus on structural reforms and highlighted the World Bank’s CPF as a key step in addressing long-term development challenges such as population growth and climate change.
Finance Minister Aurangzeb also conducted meetings with Masato Kanda, President of the Asian Development Bank, Christos Harpanditis, Vice President of Philip Morris International and Moody’s team.
These engagements aimed as Pakistan’s proactive approach to economic recovery, structural reform, and global collaboration.
Areeba Kanwal is a contributor at The Diplomatic Insight and has passion for International Relations and diplomacy.
