Pakistan’s Finance Minister Aurangzeb talks reform progress with IMF officials

ISLAMABAD: Finance Minister Muhammad Aurangzeb reviewed Pakistan’s economic performance and reform progress with senior IMF officials this week, the finance ministry said Thursday as Islamabad works to maintain program credibility, strengthen foreign exchange reserves, and return to international capital markets.

According to the Ministry of Finance, Aurangzeb met with several senior IMF officials, including First Deputy Managing Director Dan Katz, Deputy Managing Director Nigel Clarke, Middle East and Central Asia Department Director Jihad Azour, and Pakistan Mission Chief Iva Petrova.

The meetings covered Pakistan’s progress under the IMF’s extended fund facility and resilience and sustainability facility along with the broader reform program tied to both arrangements.

Finance Minister Holds Meetings with IMF Senior Management, Reviews Reform Progress and Macroeconomic Performance

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a series of meetings with the senior management of the International Monetary Fund (IMF),… pic.twitter.com/GvrM1Ot1L9

— Ministry of Finance, Government of Pakistan (@Financegovpk) July 23, 2026

Aurangzeb pointed to improvements in Pakistan’s fiscal and external balances, stronger foreign exchange reserves, record remittances, and a stronger current account position.

Discussions also touched on tax and energy reforms, tariff rationalization, debt management, diversifying financing sources, and Pakistan’s path back to international capital markets.

Both sides also discussed human capital development, women’s economic participation, demographic challenges, technology driven growth, and private sector led, export focused development.

Aurangzeb thanked the IMF for recognizing Pakistan’s commitment to reform, reaffirming the government’s focus on fiscal discipline and long term economic transformation.

The talks come as Pakistan remains under a $7 billion IMF program that has required difficult tax hikes, spending cuts, and structural reforms, that Pakistan had requested a $10 billion bilateral exchange stabilization support facility from the U.S., with a maturity of up to five years.

If approved, the facility could help strengthen Pakistan’s foreign currency reserves, ease pressure on the rupee, and reduce reliance on multilateral lenders, the U.S. treasury declined to comment on the request.

Aurangzeb also met U.S. Treasury Secretary Scott Bessent in Washington on Tuesday, raising concerns about Pakistan’s economic exposure to regional geopolitical tensions and seeking greater U.S. support for Pakistan’s return to global capital markets.