WASHINGTON: Pakistan’s Finance Minister, Muhammad Aurangzeb, touched down in Washington D.C. on Sunday, leading a delegation to the spring meetings of the IMF and World Bank. The team is set to negotiate a new financial assistance package, estimated between $6 billion and $8 billion.
Scheduled from April 17-19, the IMF ministerial gatherings will see a series of strategic discussions, extending over additional activities planned from April 15-20.
During this critical visit, Minister Aurangzeb and his team are booked for numerous bilateral meetings with top leaders from the IMF and World Bank, as well as high-ranking officials from international financial bodies. Key discussions are also on the agenda with finance ministers from China, Saudi Arabia, UAE, Turkey, and other supportive nations.
As representatives of Pakistan in these multilateral forums, the delegation is also poised to engage with U.S. officials, capitalizing on their presence in the U.S. capital.
IMF Managing Director Kristalina Georgieva recently highlighted ongoing critical issues facing Pakistan, acknowledging the country’s pursuit of a new loan agreement. This meeting could pave the way for a subsequent program with the Fund, following the completion of the current $3 billion stand-by arrangement later this month. The Prime Minister has previously underscored the necessity of another deal with the IMF to ensure economic stability in Pakistan.
Earlier in the month, Julie Kozack, IMF’s Director of Communications, pointed out Pakistan’s interest in securing what could be its largest loan facility to date, indicating the IMF’s readiness to commence program discussions soon.
The spring meetings are also expected to finalize the disbursement of the last tranche of $1.1 billion from the existing arrangement.
Upon arrival, Pakistan’s Ambassador Masood Khan and embassy officials extended a warm welcome to Minister Aurangzeb at the airport.
