Pakistan reiterates pledge to IMF on economic reforms

Pakistan Finance Minister Muhammad Aurangzeb has reassured the International Monetary Fund (IMF) that the country would continue the reform momentum as he met IMF Managing Director Kristalina Georgieva on the opening day of the IMF-World Bank Spring Meetings 2025, according to a statement from the Finance Division.

The Pakistani authorities and the IMF team reached staff-level agreement on the Extended Fund Facility (EFF) in the amount equivalent to SDR 5,320 million (or about USD 7 billion) on July 12, 2024, which was later approved by the IMF’s Executive Board in the last week of September.

Last month, IMF and Pakistan reached a deal for a new $1.3 billion arrangement and also agreed on the first review of the ongoing 37-month bailout programme.

Analysts believe the IMF programme is crucial as it gives the government a roadmap for economic reforms while providing a cushion to the country’s foreign exchange reserves.

Aurangzeb leaves for US to attend World Bank Group/IMF meetings

In the meeting with IMF managing director, Aurangzeb reiterated the Government of Pakistan’s “commitment to maintaining the reform momentum and extended an invitation from the Prime Minister of Pakistan for Ms Georgieva to visit the country”, the Finance Division said.

Finance czar meets World Bank president

Aurangzeb began his visit to Washington by conducting a series of high-level meetings on the sidelines of the 2025 Spring Meetings of the IMF and the World Bank Group.

He also met World Bank Group president Ajay Banga.

“The finance minister expressed gratitude to the World Bank for its historical support to Pakistan and commended its leadership in developing a transformative CPF [Country Partnership Framework]—a decade-long strategic roadmap centered around measurable impacts and outcomes.

He appreciated the World Bank’s ongoing assistance in crafting a comprehensive implementation strategy and action plan to operationalise the CPF while simultaneously enhancing overall efficiency. The Minister also provided a detailed overview of Pakistan’s macroeconomic turnaround and reaffirmed the government’s unwavering commitment to ensuring sustainable economic stability,“ the Finance Division said.

Deloitte delegation apprised of macroeconomic outlook

Meanwhile, Aurangzeb also met a Deloitte delegation and apprised them of Pakistan’s macroeconomic outlook, the government’s sectoral development agenda, and its export-led growth priorities.

Aurangzeb meets IFC Regional VP

“Both sides explored potential collaboration in energy sector reforms, critical minerals extraction and marketing, privatisation, technology, crypto policy, and the operationalisation of the CPF. Minister Aurangzeb also welcomed Deloitte’s planned visit to Pakistan in May 2025 to further deepen engagement.”

Meeting with Robert Kaproth

The finance minister also held a meeting with Robert Kaproth, Assistant Secretary of the US Department of the Treasury, and briefed him on Pakistan’s macroeconomic indicators.

“He [Aurangzeb] highlighted ongoing reforms in taxation, energy, privatisation, state-owned enterprises (SOEs), pensions, and debt management,” the Finance Division said.