WASHINGTON – Finance Minister Muhammad Aurangzeb started economic talks with International Monetary Fund (IMF) and World Bank in Washington as part of the 2025 Spring Meetings of US based lenders.
Leading Pakistan’s delegation, Aurangzeb met IMF Managing Director Kristalina Georgieva and World Bank President Ajay Banga to discuss Pakistan’s economic recovery strategy, structural reforms, and the future of ongoing financial support programmes.
Diplomatic sources termed meetings as “constructive,” with IMF discussions expected to influence the lender’s review of Pakistan’s $7 billion Extended Fund Facility. Islamabad is seeking a $1 billion disbursement, and an IMF review mission is scheduled to visit Pakistan on May 14.
Talks with the World Bank focused on development financing and medium-term reforms, particularly fiscal consolidation and energy sector restructuring.
Aurangzeb has met officials from global financial institutions, development partners, and major creditors. Over the coming days, he is scheduled to meet officials from China, the United States, Saudi Arabia, the UAE, and European nations. He will also engage with commercial banks, credit rating agencies, and multilateral lenders, including the Asian Development Bank.
A key meeting with Chinese Finance Minister Lan Fo’an will address Pakistan’s request to reschedule $3.4 billion in debt, aimed at easing external financing pressures. Discussions with US Treasury and Exim Bank officials will focus on the $3 billion funding gap for the Reko Diq copper and gold project. The U.S. Exim Bank has shown interest in providing $1 billion in loans, contingent on receiving preferential creditor status — a condition still under discussion.
Aurangzeb is also set to meet with Mohamed Nasheed, Secretary General of the Climate Vulnerable Forum, to explore avenues for climate finance and resilience-building initiatives.
IMF approves $1.3 Billion Loan to Pakistan with focus on economic reforms, climate resilience
