ISLAMABAD – Pakistan’s Finance Minister Muhammad Aurangzeb held key meetings with Chinese officials during the IMF–World Bank Spring Meetings in Washington. The discussions focused on economic cooperation and financial stability.
During the visit, the minister met China’s Finance Minister Lan Fo’an. He thanked China for its continued support to Pakistan. He also acknowledged China’s role at the IMF in helping Pakistan move forward with its financial programme.
Aurangzeb shared updates on Pakistan’s progress under the IMF programme. He said a Staff-Level Agreement has been reached for the third review under the Extended Fund Facility. He also mentioned progress on the second review under the Resilience and Sustainability Facility.
He noted that approval from the IMF Executive Board is expected in early May. This step is important for unlocking further financial support for Pakistan. Officials believe it will help improve the country’s economic outlook.
The finance minister also informed the Chinese side about recent financial developments. Pakistan has repaid a $1.4 billion Eurobond. It has also secured additional support from Saudi Arabia.
He discussed plans to launch Pakistan’s first Panda Bond. This bond will be issued in Chinese currency. He also highlighted the growing use of the Chinese Renminbi in bilateral trade. He stressed the need to expand the currency swap agreement between both countries.
Aurangzeb appreciated China’s recognition of Pakistan’s diplomatic efforts in regional matters. He also reaffirmed Pakistan’s support for the creation of a development bank under the Shanghai Cooperation Organization.
In another meeting, the minister met Pan Gongsheng. He discussed Pakistan’s financing plans and requested faster approvals for the Panda Bond.
The Chinese official invited Aurangzeb to visit Beijing soon. Both sides agreed to continue cooperation at the IMF and other global platforms.
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Officials say these engagements are key for strengthening Pakistan’s economy and securing future financial support.
