WASHINGTON: Finance Minister Muhammad Aurangzeb held a series of high-level meetings in Washington with officials from the World Bank, Fitch Ratings, and other institutions to advance Pakistan’s economic agenda and underscore its commitment to reforms under the $7 billion International Monetary Fund (IMF) programme.
On the sidelines of the IMF–World Bank annual meetings, Aurangzeb met with World Bank President Ajay Banga and reaffirmed Pakistan’s dedication to strengthening its partnership with the Bank, according to a statement from the Pakistani finance ministry.
During the meeting, the finance minister also briefed Banga on the government’s response to recent devastating floods, which claimed over 1,000 lives, impacted more than 4 million people, and caused an estimated $1.3 billion in damages.
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with Mr. Ajay Banga, President of the World Bank, on the sidelines of the IMF–World Bank Annual Meetings in Washington D.C.
The Finance Minister recalled the Prime Minister’s productive engagement with Mr.… pic.twitter.com/8rZoR2hkAp
— Ministry of Finance, Government of Pakistan (@Financegovpk) October 18, 2025
“The Minister endorsed the proposal of leveraging technology platforms and cooperatives to effectively reach small farmers and enhance agricultural resilience,” the finance ministry said in a statement.
“Aurangzeb thanked the World Bank for its technical assistance in developing Pakistan’s Tariff Policy and informed Mr. Banga about the Memoranda of Understanding (MoUs) signed with provinces for the implementation of the Country Partnership Framework (CPF).”
Earlier in Washington D.C., the finance minister met with officials from Fitch Ratings and highlighted the government’s commitment to structural reforms. He thanked the agency for upgrading Pakistan’s credit rating to B- with a stable outlook and expressed satisfaction that all three major international rating agencies are now aligned in their assessments of the country’s economic trajectory.
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with officials from Fitch Ratings in Washington D.C.
The Minister thanked the agency for upgrading Pakistan’s credit rating to B- with a stable outlook, and expressed satisfaction that all three major… pic.twitter.com/kDAiWYpGrW
— Ministry of Finance, Government of Pakistan (@Financegovpk) October 18, 2025
“He briefed the Fitch team on the recently announced Staff Level Agreement (SLA) with the International Monetary Fund (IMF) and highlighted Pakistan’s progress on key structural reforms in taxation, energy, privatization, and state-owned enterprises (SOEs),” his ministry said.
“The Minister underscored the government’s resolve to expedite the privatization process to enhance efficiency and fiscal sustainability.”
“The meeting concluded with an interactive exchange, during which the Minister responded to queries from the Fitch team and reaffirmed Pakistan’s commitment to maintaining macroeconomic stability and sustaining reform momentum,” the finance ministry added.
