Bangkok: October 14, 2026: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, addressed the Middle East, North Africa, Afghanistan and Pakistan (MENAP) meeting with the IMF Managing Director on Pakistan’s economic progress and regional challenges, on the sidelines of the World Bank Group–IMF Annual Meetings 2026 in Bangkok, Thailand.
The finance minister highlighted a fiscal deficit at a 22-year low, three consecutive years of primary surpluses and economic growth of 3.7%. He noted historic-high foreign exchange reserves covering three months of imports, and stronger buffers against climate and regional shocks. He cited sovereign rating upgrades, the September Eurobond issuance and the October 7 IMF staff-level agreement as evidence of progress.
He reaffirmed commitment to reforms and targeted, budget-neutral and time-bound subsidies to protect low-income groups and preserve social cohesion. He also called for diversified energy sources and trade routes, deeper regional integration, and investment in logistics and food systems.
The minister emphasized renewed commitment to multilateralism and Pakistan’s readiness to contribute actively to regional cooperation.
Meeting with MIGA Managing Director
Senator Muhammad Aurangzeb also met with Multilateral Investment Guarantee Agency (MIGA) Managing Director Mr. Tsutomu Yamamoto to discuss financing and guarantee support for Pakistan.
The minister emphasized that financing terms should reflect Pakistan’s improved sovereign ratings and access to international capital markets. He expressed satisfaction that MIGA had revised pricing and wanted to proceed with the Board consideration and documentation.
He further reviewed the hydropower-related case before the UK Supreme Court, noting that next steps would depend on the Court’s judgment.