Aurangzeb outlines Pakistan’s reform path to Moody’s

April 17, 2026 (MLN):  Pakistan and Moody’s held a constructive meeting on the sidelines of the World Bank–IMF Spring Meetings 2026, reviewing the country’s macroeconomic stability, external financing position, and medium-term capital market strategy.

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb met representatives of Moody’s in Washington, where he briefed them on Pakistan’s ongoing economic reforms and progress under its IMF-supported programme, according to a press release issued.

During the meeting, the Finance Minister informed Moody’s that Pakistan has successfully concluded a Staff-Level Agreement with the International Monetary Fund (IMF) for the third review under the Extended Fund Facility (EFF) and the second review under the Resilience and Sustainability Facility (RSF), with final approval expected from the IMF Executive Board shortly.

Senator Aurangzeb highlighted that Pakistan has met its Eurobond repayment obligations on time and continues to honor all creditor commitments, adding that financial support from the Kingdom of Saudi Arabia has strengthened the country’s external position.

He also outlined Pakistan’s medium-term strategy to re-access international capital markets, including preparations for a Eurobond issuance and a dollar-settled rupee-linked bond aimed at diversifying financing sources.

The Finance Minister provided an update on the government’s response to ongoing regional economic pressures, particularly in the energy sector, noting steps taken to secure supply chains, ensure full price pass-through, and provide targeted digital subsidies for vulnerable groups.

He further informed Moody’s that Pakistan entered the current crisis with higher fertilizer stock levels compared to last year, helping cushion the impact during the critical agricultural season.

Senator Aurangzeb reaffirmed Pakistan’s commitment to continued engagement with Moody’s on macroeconomic developments and policy direction.

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