Pakistan looks to reinvigorate Citibank partnership

April 18, 2026 (MLN): Pakistan has updated Citibank on key economic milestones including the successful conclusion of a Staff-Level Agreement with the IMF, timely repayment of $1.4 billion on its Eurobond, re-entry into international capital markets after four years, and progress on the inaugural Panda Bond issuance targeted for completion in May.

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a meeting with representatives of Citibank on the sidelines of the World Bank–IMF Spring Meetings 2026 in Washington, D.C, according to a press relase issued.

The Finance Minister confirmed that the IMF Staff-Level Agreement covers the third review under the Extended Fund Facility and the second review under the Resilience and Sustainability Facility, with approval by the IMF Executive Board expected imminently.

He also acknowledged the continued and steadfast financial support extended by the Kingdom of Saudi Arabia.

On capital markets, Senator Aurangzeb outlined Pakistan's broader Global Medium Term Note strategy, envisaging diversified issuances across Eurobonds, Sukuk, and rupee-linked dollar-settled bonds, aimed at broadening the investor base and diversifying financing sources.

The Finance Minister appreciated the detailed and structured capital markets strategy presented by Citibank and advised the team to maintain close coordination with Pakistan's Debt Management Office to support ongoing and future market engagements.

Concluding the meeting, Senator Aurangzeb appreciated Citibank's longstanding presence in Pakistan and expressed a strong desire to further reinvigorate and deepen the partnership.

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