Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb discusses IMF reforms, U.S. financing cooperation in Washington

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held separate meetings in Washington, D.C., with senior IMF officials and the President of the U.S. EXIM Bank to review Pakistan's reform programme and strengthen bilateral economic and commercial cooperation

ISLAMABAD, (APP - UrduPoint / Pakistan Point News - 23rd Jul, 2026) Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held separate meetings in Washington, D.C., with senior IMF officials and the President of the U.S. EXIM Bank to review Pakistan's reform programme and strengthen bilateral economic and commercial cooperation.

According to a press release issued by finance ministry here Thursday, the minister during a meeting with US EXIM Bank President and Chairman, John Jovanovic, discussed expanding Pakistan–US economic and commercial cooperation, with a focus on financing for specific long-term projects and increased trade in agricultural commodities, including cotton and soybeans, as well as hydrocarbons.

He welcomed the U.S. EXIM Bank's proposal of developing a broader framework to consolidate priority projects, establish a multi-year transaction pipeline, and facilitate US financing, technology, equipment, and services.

Both sides agreed to identify near-term transactions, designate focal persons, and work towards finalizing the strategic framework, with a view to having it signed on the sidelines of the United Nations General Assembly session in September 2026.

Meanwhile, the minister held a series of meetings with senior management of International Monetary Fund (IMF), including Dan Katz, First Deputy Managing Director, Nigel Clarke, Deputy Managing Director, Jihad Azour, Director of the IMF's Middle East and Central Asia Department, and Ms.

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Iva Petrova, Mission Chief for Pakistan.

He reviewed Pakistan's macroeconomic performance and progress under the Extended Fund Facility (EFF), Resilience and Sustainability Facility (RSF), and the broader IMF-supported reform programme.

Aurangzeb highlighted the country's improved fiscal and external balances, achievement of revenue targets, stronger foreign exchange reserves, record remittances, and an improved current account position.

Discussions also covered tax and energy reforms, privatization, tariff rationalization, debt management, diversification of financing sources, and Pakistan's return to international capital markets.

Both sides also exchanged views on human capital development, women's economic participation, demographic challenges, technology-led growth, and private sector-led, export-oriented development.

The Finance Minister concluded the meetings by thanking the Fund for recognizing Pakistan's strong programme ownership and reform progress, while reaffirming the Government's commitment to fiscal discipline, policy credibility, structural reforms, and long-term economic transformation.