FinMin hopes for early approval from IMF board to keep reforms on track

Federal Finance Minister Muhammad Aurangzeb on Tuesday expressed hope for early approval by the IMF Executive Board of the Staff Level Arrangement (SLA), while meeting International Monetary Fund (IMF) Middle East and Central Asia Department Director Jihad Azour on the sidelines of the 2026 Spring Meetings of the World Bank and IMF, according to a report on X by the Finance Ministry.

FinMin hosted a series of high-level meetings with international financial institutions, U.S. officials and business representatives on the sidelines of the 2026 World Bank-IMF Spring Meetings. scheduled for April 13 to 18focusing Tuesday on economic reforms, investment and external sector stability.

During the meeting with the IMF official and the IMF mission to Pakistan, the finance minister “expressed appreciation for the success of the Staff Level Agreement (SLA)” and said he hoped for early approval “to maintain the momentum of Pakistan’s reform agenda.”

Aurangzeb also briefed Azour on the economic impact of the ongoing conflict in the Middle East, describing it as “one of the most significant supply shocks in recent times.” He said the government was “actively managing the second and third order effects of the crisis, particularly with regard to economic growth and inflation”.

The finance minister “highlighted the successful repayment of Pakistan’s Eurobonds” and reaffirmed the government’s commitment to fulfilling “all other bilateral and multilateral external obligations in a timely manner.”

The two sides discussed progress on fiscal and structural reforms, as well as efforts to increase revenue mobilization, and agreed on “the importance of maintaining macroeconomic stability as a foundation for sustainable and inclusive economic growth,” according to the statement.

The finance minister also spoke with Saudi Fund for Development (SFD) Director General Sultan bin Abdulrahman Al-Marshad on the same day and thanked the fund for its “continued support and current and future development cooperation” with Pakistan, a separate article on X from the ministry said.

The two sides discussed “the implications of the ongoing conflict in the Middle East on global energy security and its potential economic impact”, with Aurangzeb expressing hope for a “speedy resolution of the conflict” and emphasizing “the importance of continued cooperation between Pakistan and Saudi Arabia”. They reaffirmed their “strong and long-standing partnership” and their commitment to strengthening economic cooperation.

During his meeting with US Trade Representative Jamieson Greer, the minister “stressed the importance of strengthening economic relations between Pakistan and the United States, particularly through improved trade and investment flows”, the Finance Ministry said in an article on X.

He underlined Pakistan’s commitment to “fostering an enabling business environment and improving market access to support sustainable economic partnerships.” The two sides held “constructive discussions on promoting bilateral trade and investment,” including “opportunities to expand market access for exports, facilitate greater investment flows and deepen trade ties.”

They also “expressed satisfaction with the continued progress in ongoing trade negotiations” and reaffirmed their commitment to “achieving mutually beneficial outcomes and supporting long-term economic growth.”

In a separate meeting with Tsutomu Yamamoto of the Multilateral Investment Guarantee Agency (MIGA), Aurangzeb welcomed a proposed short-term trade finance facility amounting to “up to $500 million”, calling it important for “financing critical imports, including food, fertilizer, energy and essential machinery”.

According to the ministry’s message, Aurangzeb stressed “the need to accelerate progress on the facility to ensure timely support for Pakistan’s external financing needs.” Referring to arbitration cases, he said “MIGA’s neutral facilitation would help achieve amicable resolutions, while preserving investor confidence and protecting national interests.”

The minister reaffirmed the government’s commitment to “fostering sustainable investments and maintaining economic stability” and continuing close cooperation with MIGA.

Aurangzeb also met Karan Bhatia, Vice President and Global Head of Government Affairs and Public Policy at Google, where he “appreciated Google’s ongoing initiatives in Pakistan, particularly its training and capacity building programs in the field of artificial intelligence.”

He “congratulated the company on the historic development of local assembly of Google Chromebooks in Pakistan” and its decision to open an office in the country in July 2026. The two sides discussed initiatives to promote the development of AI “in key sectors of the economy, including agriculture and manufacturing”, and reaffirmed their commitment to supporting Pakistan’s “broader digital transformation agenda”.

In addition to meeting his counterparts and financial leaders from China, Saudi Arabia, the United Arab Emirates, Turkey and the United Kingdom, the finance minister is also expected to meet senior officials from the United States Department of State and the Treasury Department. He will also speak with senior representatives of global financial institutions and companies, including the heads of major investment institutions and banks such as Franklin Templeton, Rothschild & Co, Citibank and JPMorgan Chase.

The spring meetings will begin in the shadow of the war in the Middle Eastwhich caused a major shock to the global economy; a concern also raised at the Pakistan Conference, where participants acknowledged that regional conflict had created a difficult economic environment for most countries.

IMF and World Bank officials said they would revise downward their global growth forecasts while raising their inflation forecasts, warning that emerging markets and developing countries would be hit hardest by rising energy prices and disruptions to supply chains.