Bangkok: October 15, 2026: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with representatives of Moody’s on the sidelines of the World Bank Group–IMF Annual Meetings 2026 in Bangkok, Thailand, to discuss Pakistan’s economic outlook and sovereign credit profile.
Discussions covered the recent rating upgrade, improved fiscal and external indicators, and renewed access to international capital markets. The Finance Minister outlined efforts to replace costly, short-term debt with longer-maturity financing without increasing the external debt stock.
The delegation highlighted rising foreign exchange reserves, a contained current account deficit and reduced State Bank forward liabilities. The Finance Minister reaffirmed commitment to structural reforms and sustainable, export-led growth beyond the IMF programme.
He also sought Moody’s views on achieving a stronger rating and striking the right balance between political risk and economic performance in its assessments.
Meeting with ITFC CEO
The finance minister also met with Engineer Adeeb Y. Al Aama, Chief Executive Officer of the International Islamic Trade Finance Corporation (ITFC).
The minister highlighted Pakistan’s economic progress, stronger reserves and renewed access to international capital markets. Both sides reviewed the remaining financing tranche and discussed aligning borrowing costs with improved market conditions. They agreed that technical teams would explore pricing and financing-volume adjustments to find a mutually acceptable solution.
The Finance Minister further outlined efforts to replace costly, short-term borrowing with longer-maturity financing without increasing external debt.
Discussions also covered digital product passports to support textile exports to the European Union and single-window connectivity to facilitate ASEAN trade. Both sides reaffirmed their long-term partnership and commitment to strengthening Pakistan’s export competitiveness.