WASHINGTON: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a constructive meeting with Nigel Clarke, Deputy Managing Director of the International Monetary Fund (IMF), on the sidelines of the World Bank-IMF Spring Meetings 2026.
During the meeting, the Finance Minister briefed Clarke on Pakistan’s external financing position, implementation of the IMF-supported programme, and the broader economic outlook, noting that key indicators remain broadly on track.
Senator Aurangzeb informed that current account performance has been stronger than expected, supported in part by robust remittance inflows during the month of Ramadan. He further noted that foreign exchange reserves are being reinforced through recently announced financial support from the Kingdom of Saudi Arabia, including deposit rollover arrangements.
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The Finance Minister outlined Pakistan’s strategy to diversify its financing sources, including plans to access international capital markets through instruments such as an inaugural Panda bond, Eurobond issuances, and local-currency financing to mitigate foreign exchange risks.
Senator Aurangzeb appreciated Mr. Clarke’s positive assessment of Pakistan’s programme implementation and financing strategy, particularly the emphasis on developing multiple funding avenues to enhance resilience.
Both sides agreed that regional and geopolitical shocks may persist longer than anticipated, underscoring the importance of maintaining exchange-rate flexibility and preserving fiscal space, rather than pursuing growth through unsustainable public borrowing.
The Finance Minister also welcomed the forthcoming visit of the IMF Mission team to Pakistan next month to review the budget and other programme-related matters.
Copyright Business Recorder, 2026
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