Washington, D.C. — Pakistan and the International Monetary Fund (IMF) have agreed to keep pushing forward with economic reforms. This consensus came during Finance Minister Senator Muhammad Aurangzeb’s meeting with IMF Director Jihad Azour. The two met on the sidelines of the IMF and World Bank Annual Meetings. Both parties reviewed progress on the Extended Fund Facility (EFF) and pledged to maintain fiscal discipline and structural reforms.
The IMF appreciated Pakistan’s steps to stabilize the economy. However, it stressed the need to continue the current pace of reforms. The meeting covered efforts to strengthen macroeconomic stability and promote long-term growth. Both sides acknowledged that ongoing reforms are essential for Pakistan’s economic recovery.
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Meanwhile, Finance Minister Aurangzeb also met World Bank official Axel van Trotsenburg. He thanked the World Bank for its support in development and climate-related initiatives. He warned that climate change is a growing threat, pointing to recent floods that hurt the agriculture sector and slowed GDP growth. The minister urged increased funding for climate resilience and disaster preparedness.
At the Commonwealth Finance Ministers’ Meeting, Aurangzeb called for stronger global cooperation on climate finance. He pushed for a disaster risk reduction fund to help vulnerable countries like Pakistan. He emphasized that developing nations cannot face climate challenges alone and need urgent international support.
Read more: IMF to Review Pakistan’s Flood Spending, Budget Plans
Later, the minister met with the U.S.-Pakistan Business Council to promote private investment. He invited U.S. companies to explore opportunities in energy, tech, and manufacturing. He said Pakistan’s reforms are improving the business climate, and foreign investors will benefit from the changes now underway.