Pakistan, IMF review programme progress, outlook
MG News | April 17, 2026 at 12:12 PM GMT+05:00
April 17, 2026 (MLN): Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a constructive meeting with Mr. Nigel Clarke, Deputy Managing Director of the International Monetary Fund (IMF), on the sidelines of the World Bank–IMF Spring Meetings 2026.
During the meeting, the Finance Minister briefed the IMF
Deputy Managing Director on Pakistan’s external financing position, the ongoing
implementation of the IMF-supported programme, and the broader macroeconomic
outlook. He noted that key economic indicators remain broadly on track.
Senator Aurangzeb highlighted that the current account has
performed better than earlier projections, supported by stronger-than-expected
remittance inflows during the month of Ramadan.
He further informed that foreign exchange reserves are being
strengthened through recently declared financial support from the Kingdom of
Saudi Arabia, including deposit rollover arrangements.
The Finance Minister also outlined Pakistan’s strategy to
broaden and diversify its financing base.
This includes planned access to international capital
markets through instruments such as an inaugural Panda bond, Eurobond
issuances, and increased local-currency financing aimed at reducing exposure to
foreign exchange risk.
Senator Aurangzeb appreciated the IMF Deputy Managing
Director’s positive assessment of Pakistan’s programme implementation and
financing approach, particularly the emphasis on developing multiple funding
avenues to improve economic resilience.
Both sides acknowledged that regional and geopolitical
uncertainties may persist longer than anticipated, reinforcing the need to
maintain exchange rate flexibility and preserve fiscal space, rather than
relying on unsustainable public borrowing to drive growth.
The Finance Minister also welcomed the upcoming visit of the
IMF mission team to Pakistan next month, which will review the federal budget
and other programme-related developments.
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