Prime Minister Shehbaz Sharif meets Minister of Finance Mohammad Aurangzeb on Friday, where he was informed of the government’s intention to sign a new loan arrangement with the International Monetary Fund (IMF) and informing him of his impending trip to the US.
The Prime Minister’s Office released a statement stating that the finance minister and the prime minister spoke about the finance minister’s planned visits to the World Bank, the IMF, and other organizations.
Along with a group of experts, Finance Minister Aurangzeb is scheduled to arrive in Washington on Sunday, April 16, to attend the spring meetings of the World Bank and IMF and to start negotiations on a new package estimated to cost between $6 and $8 billion.
Other meetings and activities will take place over the week of April 15-20, with the main ministerial meetings and events scheduled for April 17–19.
Bilateral discussions between Mr. Aurangzeb and his staff and the leaders of the World Bank and the IMF, along with other top officials from other international financial organizations, are on the agenda. The finance ministers of China, Saudi Arabia, the United Arab Emirates, Turkiye, and other friendly countries attending this yearly event will also meet with them one-on-one.
Since the sessions are in Washington, they will also represent Pakistan at multilateral gatherings and probably have one-on-one talks with US representatives.
IMF Managing Director Kristalina Georgieva acknowledged on Thursday that Pakistan is looking to the lender for a fresh loan agreement, but she also stated that the government still has to resolve some “very important issues.”
With the conclusion of its current $3 billion stand-by agreement (SBA) later this month, Pakistan is considering a possible follow-up program with the Fund, which she has now publicly acknowledged for the first time.
The general state of the nation’s economy was another topic of discussion between Mr. Sharif and Mr. Aurangzeb during their meeting.
