ISLAMABAD, Apr 22 ::Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held crucial discussions with global leaders, including top officials from the International Monetary Fund (IMF) and the World Bank Group, during his visit to Washington. The meetings focused on key issues such as economic reforms, climate resilience, and development projects in Pakistan.
\nThe meetings were held on the sidelines of the 2025 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group, said a press release issued by the finance ministry here Tuesday.
\nDuring his meeting with IMF Managing Director, Ms. Kristalina Georgieva, Minister Aurangzeb thanked the IMF team for reaching a Staff-Level Agreement on the First Review under the Extended Fund Facility (EFF) and a new arrangement under the Resilience and Sustainability Facility (RSF).<\/p>\n
He reiterated Pakistan\u2019s commitment to maintaining the reform momentum and extended an invitation from the Prime Minister of Pakistan for Ms. Georgieva to visit the country.<\/p>\n
Meanwhile, during a meeting with President of the World Bank Group, Ajay Banga, the Finance Minister expressed gratitude to the World Bank for its historical support to Pakistan and commended its leadership in developing a transformative CPF\u2014a decade-long strategic roadmap centered around measurable impacts and outcomes.
\nHe appreciated the World Bank\u2019s ongoing assistance in crafting a comprehensive implementation strategy and action plan to operationalize the CPF while simultaneously enhancing overall efficiency.
\nThe Minister also provided a detailed overview of Pakistan\u2019s macroeconomic turnaround and reaffirmed the government\u2019s unwavering commitment to ensuring sustainable economic stability.
\nEarlier, the minister met with the Deloitte delegation and apprised them of Pakistan\u2019s macroeconomic outlook, the government\u2019s sectoral development agenda, and its export-led growth priorities.
\nBoth sides explored potential collaboration in energy sector reforms, critical minerals extraction and marketing, privatization, technology, crypto policy, and the operationalization of the Country Partnership Framework (CPF).
\nMinister Aurangzeb also welcomed Deloitte\u2019s planned visit to Pakistan in May 2025 to further deepen engagement.
\nHe also met with Ms. Hela Cheikhrouhou, Regional Vice President of the International Finance Corporation (IFC), and discussed private sector reforms, energy transition, sound municipal finance, and full employment initiatives.
\nHe reviewed progress on Diversified Payment Rights (DPR) and commended the IFC\u2019s pivotal role in securing USD 2.5 billion in debt financing for the Reko Diq Copper & Gold Mine Project in Balochistan. The Minister emphasized the importance of ensuring that local communities benefit from the project\u2019s economic gains.
\nThe Finance Minister also held a meeting with Robert Kaproth, Assistant Secretary of the U.S. Department of the Treasury, and briefed him on Pakistan\u2019s improving macroeconomic indicators.
\nHe highlighted ongoing reforms in taxation, energy, privatization, state-owned enterprises (SOEs), pensions, and debt management. The Minister underscored the significance of the World Bank\u2019s Country Partnership Framework (CPF) in addressing Pakistan\u2019s critical challenges, including population growth and climate resilience.
\nEarlier in the day, at a luncheon hosted by the US-Pakistan Business Council at the U.S. Chamber of Commerce, the Finance Minister engaged with American corporate leaders, detailing Pakistan\u2019s economic progress and reform measures in taxation, energy, SOEs, and privatization.
\nHe emphasized the importance of regional trade, market diversification, and sectoral expansion. He thanked the U.S. delegation for participating in the Pakistan Mineral Investment Forum 2025 and expressed Pakistan\u2019s commitment to continued collaboration in the mining and minerals sector.
\nIn yet another meeting with Mohamed Nasheed, Secretary General of the Climate Vulnerable Forum & Vulnerable 20 (CVF-V20), Aurangzeb appreciated the recent visit of the CVF Secretariat team to Pakistan and the collaborative efforts to develop a Climate Prosperity Plan (CPP), which identifies financing avenues for climate-resilient projects.
\nHe highlighted Pakistan\u2019s landmark decade-long CPF with the World Bank, noting that four of its six key outcomes directly address Pakistan\u2019s existential challenges of climate change and population pressures.
\nThe Minister also briefed on progress under the IMF\u2019s Resilience and Sustainability Facility (RSF) and reiterated Pakistan\u2019s commitment to finalizing CPP projects through a phased financing approach.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD, Apr 22 ::Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held crucial discussions with global leaders, including top officials from the International Monetary Fund (IMF) and the World Bank Group, during his visit to Washington. The meetings focused on key issues such as […]<\/p>\n
\n","protected":false},"author":16,"featured_media":121070,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-121065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-business-news"],"yoast_head":"\n