Pakistan hopes IMF Board will approve $1.2b funds soon

Finance Minister Aurangzeb takes up progress on structural reforms with IMF Director Jihad: In meeting with US trade envoy, minister calls for cementing Pak-US economic ties: Pledges to honour all external financial obligations: Wants boost in Pak-Saudi economic cooperation

Published: 10:53 AM, 14 Apr, 2026
Business, Featured News
Pakistan hopes IMF Board will approve $1.2b funds soon
Caption: Finance Minister Aurangzeb in a meetign with the IMF director in Washington.

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has reaffirmed Pakistan's commitment to meeting all other bilateral and multilateral external obligations in a timely manner, expressing the hope that IMF Board will approve 1.2 billion funds for Pakistan soon, reported 24NewsHD TV channel on Tuesday.

Talking to IMF Director Jihad Azour in Washington D.C, Aurangzeb highlighted Pakistan’s successful Eurobond repayment.

During the meeting, the finance minister briefed the IMF Director on the economic impact of the ongoing conflict in the Middle East, describing it as one of the most significant supply shocks in recent times.

Both sides discussed progress on fiscal and structural reforms, as well as ongoing efforts to enhance revenue mobilization. They agreed on the importance of maintaining macroeconomic stability as a foundation for sustainable and inclusive economic growth.

Call for cementing Pak-US economic ties

Finance Minister Aurangzeb has underscored the importance of strengthening Pakistan-United States economic relations, particularly through enhanced trade and investment flows.

He was talking to United States Trade Representative (USTR) Ambassador Jamieson Greer in Washington on the sidelines of the World Bank-IMF Spring Meetings.

He emphasized Pakistan’s commitment to fostering a conducive business environment and improving market access to support sustainable economic partnerships.

The two sides expressed satisfaction over the steady progress in ongoing trade negotiations and acknowledged the positive momentum in bilateral economic engagement.

They reaffirmed their shared commitment to further strengthening cooperation, with a focus on achieving mutually beneficial outcomes and supporting long-term economic growth.

Pakistan to honour all financial obligations

Finance Minister Aurangzeb has expressed Pakistan’s continued commitment to its reform programme.

During a meeting with Deputy Under Secretary for International Affairs at the US Department of the Treasury, Jonathan Greenstein in Washington DC, he noted that Pakistan had successfully met its Eurobond payment obligation of 1.3 billion dollars. He reiterated the government’s resolve to honour all forthcoming external financial obligations in a timely manner.

Both sides expressed their intent to further deepen economic engagement.

Pak-Saudi cooperation

Finance Minister Aurangzeb held a meeting with Chief Executive Officer of Saudi Fund for Development Sultan bin Abdulrahman Al-Marshad, in Washington.

The minister recalled his recent meeting with the Finance Minister of the Kingdom of Saudi Arabia prior to his departure for Washington, noting that the interaction was productive and reflected the strength of bilateral relations.

The two sides discussed the implications of the ongoing conflict in the Middle East on global energy security and its potential economic impact.

Aurangzeb expressed hope for an early resolution of the conflict and emphasized the importance of continued cooperation between Pakistan and Saudi Arabia.

The meeting reaffirmed the strong and longstanding partnership between the two countries and their shared commitment to further strengthening economic and development cooperation.

Digital payments

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb also held a meeting with Tucker Foote, Chief of Global Affairs and Policy at Mastercard.

During the meeting, the two sides discussed avenues for strengthening digital payments, promoting financial inclusion, and fostering innovation within Pakistan’s fintech ecosystem. Both sides reaffirmed their commitment to supporting the development of a secure, inclusive, and forward-looking digital economy in Pakistan. Issues relating to cybersecurity, cross-border financial flows, and remittances were also discussed during the meeting.

Meeting with Google VP

Federal Minister for Finance Aurangzeb also held a productive meeting with Ambassador Karan Bhatia, Vice President and Global Head of Government Affairs and Public Policy at Google.

During the meeting, the minister appreciated Google’s ongoing initiatives in Pakistan, particularly its training and capacity-building programmes in the field of artificial intelligence (AI).

He also commended the company on the landmark development of local assembly of Google Chromebooks in Pakistan and its decision to open an office in the country in July 2026.

The two sides discussed ongoing and new initiatives being pursued by Google in partnership with the Government of Pakistan to promote AI development and its integration across key sectors of the economy, including agriculture and manufacturing.

Both sides reaffirmed their commitment to further strengthening collaboration in support of Pakistan’s broader digital transformation agenda.

Meeting with MIGA MD

Aurangzeb also held a meeting with Tsutomu Yamamoto, Managing Director of the Multilateral Investment Guarantee Agency (MIGA).

He welcomed MIGA’s proposed short-term trade finance facility of up to USD 500 million, underscoring its importance in supporting the financing of critical imports, including food, fertilizer, energy, and essential machinery. 

He emphasized the need for expediting progress on the facility to ensure timely support for Pakistan’s external financing requirements.

The minister also acknowledged the ongoing arbitration cases and their associated financial implications. He expressed confidence that MIGA’s neutral facilitation would contribute towards achieving amicable resolutions, while safeguarding investor confidence and protecting national interests.

Underscoring the government’s commitment to fostering sustainable investment and maintaining economic stability, he reaffirmed Pakistan’s resolve to continue working closely with MIGA to promote a conducive investment environment.

Reporter Waqas Azeem

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