FinMin updates Citigroup on economic reforms

May 13, 2025 (MLN): Pakistan's recent economic developments were shared by Minister for Finance Muhammad Aurangzeb during a virtual meeting with Johana Chua, Head of Emerging Markets Economies at Citigroup Global Markets, and representatives from the investment community.

He pointed to the recent upgrade of Pakistan’s sovereign rating by Fitch, describing it as a strong endorsement of the country’s improving macroeconomic direction.

Emphasizing the government’s commitment to economic reforms, the Minister reiterated the resolve to maintain fiscal discipline and pursue structural improvements.

Aurangzeb informed participants about the successful completion of a Staff Level Agreement with the International Monetary Fund (IMF), as per the press release issued.

He also highlighted the recent approval of the Resilience and Sustainability Facility, calling it a significant step forward for Pakistan.

Turning to growth priorities, the Finance Minister outlined the government's focus on shifting towards an export-driven economy.

He noted a marked increase in IT services exports, which have reached $3.2 billion this year, reflecting Pakistan’s growing digital footprint.

The Citigroup delegation acknowledged the macroeconomic advancements and ongoing reform measures, commending the direction of Pakistan’s economic policies.

Johana Chua welcomed the country’s progress on the IMF program and praised its dedication to fiscal consolidation, export expansion, and tax reform.

She expressed Citigroup’s continued interest in partnering with Pakistan and reaffirmed support for the nation’s reform efforts and international outreach. Both parties agreed to stay in regular contact and explore further areas of cooperation.

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