Finance Minister Muhammad Aurangzeb in Washington for IMF, World Bank annual meetings

Finance Minister Muhammad Aurangzeb has arrived in Washington, D.C. on a six-day official visit to attend the annual meetings of the International Monetary Fund (IMF) and the World Bank, as Pakistan continues efforts to strengthen its economic and financial partnerships.

According to the Finance Ministry, the visit includes a packed schedule of high-level meetings with global financial leaders, international investors, and senior policymakers from across the world.

During his visit, the finance minister will hold bilateral discussions with his counterparts from China, the United Kingdom, Saudi Arabia, Turkiye, and Azerbaijan. Meetings are also scheduled with IMF Managing Director Kristalina Georgieva, World Bank President Ajay Banga, senior White House officials, and the Chairman of the U.S. Congressional Financial Services Committee.

Aurangzeb is also set to deliver the keynote address at the Middle East, North Africa, and Pakistan (MENAP) Forum, where he will outline Pakistan’s progress on economic reforms, fiscal stability, and digital transformation initiatives.

He will participate in a regional roundtable hosted by the World Bank focusing on the Federal Board of Revenue’s (FBR) digital transformation, highlighting Pakistan’s ongoing tax reforms and modernization efforts. In addition, he will engage with the World Economic Forum (WEF) and meet representatives of global credit rating agencies, commercial banks, and Middle Eastern investment firms to discuss investment opportunities in Pakistan.

As part of his outreach, the finance minister will visit leading U.S. think tanks, including the Atlantic Council and the Peterson Institute of International Economics, and will interact with members of the Pakistani diaspora to discuss ways to boost bilateral trade and remittances.

Crucially, Aurangzeb’s visit coincides with the next round of IMF economic review talks, which will take place in Washington from October 13 to 18. The discussions aim to finalize a staff-level agreement that would unlock the next $1.2 billion tranche under the ongoing loan programme.

According to ministry sources, Pakistan and the IMF have reached an understanding on most major policy points. Negotiations are continuing over the Memorandum of Economic and Financial Policies (MEFP), with Pakistan requesting certain amendments to accommodate domestic reform timelines.

Officials confirmed that Pakistan has also sought additional time to release the Corruption and Governance Diagnostic Assessment Report, which will be published after necessary revisions. The staff-level deal is expected to be signed once both sides finalize the MEFP.

The visit is seen as a vital opportunity for Pakistan to reinforce investor confidence, showcase fiscal progress, and strengthen international partnerships essential for long-term economic stability.