Second round of Pakistan-IMF talks to be held in Washington during IMF-World Bank annual meeting

The next round of economic review talks between Pakistan and the International Monetary Fund (IMF) will be held in Washington, where Finance Minister Muhammad Aurangzeb and his economic team are set to engage in key policy negotiations this week.

A staff-level agreement is expected if the discussions conclude successfully, paving the way for the release of the next $1.2 billion tranche under the ongoing IMF loan programme. The upcoming review will take place alongside the annual meetings of the IMF and World Bank, scheduled from October 13 to 18 in Washington.

During the visit, Pakistan’s delegation — including the Finance Secretary and Governor of the State Bank — will meet IMF Managing Director Kristalina Georgieva, senior World Bank and IFC officials, and representatives from global rating agencies. Officials said the Ministry of Finance is finalizing the visit schedule, with policy discussions to address outstanding issues left unresolved in the previous round of talks.

Earlier, the second half-yearly economic review between Pakistan and the IMF ended without a staff-level agreement, despite what both sides described as constructive and positive discussions.

A joint statement had acknowledged Pakistan’s strong implementation of IMF programme conditions, but the lender urged the government to take additional measures to ensure fiscal discipline, strengthen governance, and sustain macroeconomic stability.

The IMF also called for maintaining a tight monetary policy to contain inflation, continuing regular tariff adjustments, and advancing energy sector reforms to reduce losses.

Discussions also focused on tax and governance reforms, including the abolition of tax-free car import schemes and stricter implementation of baggage, gift, and residence transfer policies. The IMF has reportedly asked Pakistan to obtain Economic Coordination Committee (ECC) approval for the new measures later this month.

Officials at the Ministry of Finance remain hopeful that the next round of talks will lead to a breakthrough and unlock the pending tranche.
If an agreement is reached, Pakistan could receive the $1.2 billion disbursement after approval from the IMF Executive Board later this year.