Finance Minister Muhammad Aurangzeb reached Washington on Sunday, where he will attend plenary meetings of the International Monetary Fund (IMF) and World Bank (WB) from Oct 13 to 18.
The meetings bring together global finance ministers, central bankers and development leaders, offering Pakistan a crucial platform to secure the next IMF tranche, advance economic reforms, and engage international partners on growth, investment, and resilience.
Aurangzeb’s visit comes after a IMF mission concluded talks with Pakistani authorities on reviews of two lending programmes totalling $8.4 billion without announcing a staff-level agreement (SLA).
Before leaving for the US, the finance minister had expressed optimism that the SLA with the IMF would be finalised next week during his visit to Washington.
Separately, Pakistani officials in Washington told media representatives that during the 2025 annual meetings, the delegation from Islamabad would focus on securing the third IMF tranche, meeting the remaining programme benchmarks and presenting verified flood-related loss estimates, with provincial contributions aligned to federal targets.
Last month, Prime Minister Shehbaz Sharif had urged the lender to take into account the recent flood damage in its review for the country.
A member of the IMF since 1950, Pakistan has entered over twenty lending arrangements with it, reflecting both its need for external support and the IMF’s stabilising role during crises.
Similarly, the WB has supported Pakistan in energy, transport, human capital, social protection, and climate resilience projects.
During Aurangzeb’s meetings in Washington, WB projects on climate adaptation, digitalisation of the Federal Board of Revenue (FBR) along with infrastructure development, and engaging investors and rating agencies to strengthen confidence in Pakistan’s economic management will come under discussion.
The minister is also scheduled to participate in a regional round table meeting on the digital transformation of Pakistan’s tax system, organised by the WB.
Islamabad’s long-standing engagements with the two institutions have been providing vital assistance to Pakistan, though they require the country to meet challenging fiscal and structural conditions.
Outcomes from these discussions, particularly the SLA with the IMF, will be key to sustaining economic stability and guiding the country’s growth trajectory in the coming year.
The annual meetings of these international institutions are the world’s leading forums for addressing global economic challenges, financial stability and development strategies. They provide Pakistan with a platform to demonstrate reform commitment, secure multilateral support, and signal stability to investors and international partners.
Pakistan’s participation in these meetings is particularly significant as it seeks to implement structural reforms, manage fiscal and debt pressures, and reassure investors and multilateral lenders of its policy credibility.
Earlier, the finance ministry shared details of Aurangzeb’s engagements in Washington, which include 65 meetings and official engagements, according to state-run APP.
He is expected to hold meetings with senior officials of the IMF, WB, International Finance Corporation (IFC), and Multilateral Investment Guarantee Agency (MIGA).
Moreover, he is expected to meet WB President Ajay Banga in a one-on-one session and attend a dinner hosted by Banga for finance ministers of selected countries. He would also meet IMF Managing Director Kristalina Georgieva during engagements on the sidelines of meetings of the G24 and MENAP (Middle East, North Africa, Afghanistan, and Pakistan) countries, where he would deliver a keynote address.
He would take part in two events hosted by the World Economic Forum and hold bilateral meetings with finance ministers of China, the United Kingdom, Saudi Arabia, Turkiye, and Azerbaijan.
His schedule also includes meetings with senior White House officials, members of the US Congress including the chairperson of the Financial Services Committee and representatives from the US State Department, Treasury Department and the International Development Finance Corporation.
He will also engage with the US-Pakistan Business Council to discuss investment opportunities and meet global credit rating agencies and commercial and investment banks, particularly those from the Middle East.
In addition to his other engagements, the finance minister is also expected to give interviews to selected international and US media outlets during the visit.