Finance Minister Muhammad Aurangzeb arrived in Washington to attend the IMF and World Bank spring meetings. He aims to discuss a new financial package worth between $6 billion and $8 billion.
The ministerial meetings, set for April 17-19, include additional April 15-20 events. Mr. Aurangzeb’s agenda is full, featuring bilateral discussions with leaders from the IMF, the World Bank, and other global financial bodies. He will also meet finance ministers from China, Saudi Arabia, the UAE, Turkey, and other supportive countries.
He is also slated to meet U.S. officials in Washington. IMF Managing Director Kristalina Georgieva recently highlighted Pakistan’s unresolved critical issues and acknowledged its interest in a new loan agreement.
This could lead to a subsequent programme with the IMF following the current $3 billion stand-by arrangement, which ends this month. The Prime Minister stressed the need for another earlier agreement to stabilize the economy.
Julie Kozack, the IMF’s Director of Communications, recognized Pakistan’s request for its largest loan yet earlier this month and confirmed the IMF’s readiness to start discussing it soon.
During these meetings, the IMF plans to finalize the disbursement of the last $1.1 billion segment from the existing arrangement. Upon his arrival, Pakistan’s Ambassador Masood Khan and embassy officials greeted Mr. Aurangzeb at the airport.
