Finance Minister Muhammad Aurangzeb has praised China’s steadfast support in Pakistan’s dealings with the International Monetary Fund (IMF) during high-level discussions held in Washington, DC. The meetings took place on the sidelines of the 2026 World Bank Group and IMF Spring Meetings, where Aurangzeb engaged with his Chinese counterpart, Finance Minister Lan Fo’an, to acknowledge Beijing’s constructive role.
The talks centered on Pakistan’s economic outlook and its achievements under the current IMF programmes. The Finance Ministry confirmed that staff-level agreements have been finalized for the third review of the Extended Fund Facility (EFF) and the second review of the Resilience and Sustainability Facility (RSF), with formal board approval expected in early May.
A key focus of the bilateral discussions was Pakistan’s strategy to diversify its financing sources. Aurangzeb updated on the progress of the country’s first-ever Panda bond issuance, urging the National Association of Financial Market Institutional Investors (NAFMII) to expedite its approval. This initiative is viewed as a vital step toward enhancing Pakistan’s integration with international capital markets.
Further advancing this agenda, the Minister also met with Moody’s representatives, reaffirming Pakistan’s fulfillment of its Eurobond repayment obligations and its commitment to meeting all creditor payments on schedule.
Beyond financial matters, the dialogue addressed regional cooperation and geopolitical stability. Aurangzeb conveyed Pakistan’s “full and unconditional support” for establishing the Shanghai Cooperation Organisation (SCO) Development Bank, a significant move as Pakistan prepares to assume the SCO presidency in September.
In response to economic pressures stemming from ongoing regional conflicts, the Minister outlined government measures including targeted digital subsidies for vulnerable groups and a “full price pass-through” policy to manage energy supply. These reform efforts have been praised by IMF Managing Director Kristalina Georgieva, who acknowledged Pakistan’s “continued progress” toward macroeconomic stability.
