Pakistan’s finmin departs for Hong Kong to take part in Asian Financial Forum

Pakistan Finance Minister Muhammad Aurangzeb speaks during an interview with Reuters at his office in Islamabad on July 19, 2024. (REUTERS/File)
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Updated 12 January 2025
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Pakistan’s finmin departs for Hong Kong to take part in Asian Financial Forum

  • AFF brings together influential leaders from government, finance and business in the region 
  • Muhammad Aurangzeb will also interact with foreign media publications during the tour 

ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb has left for Hong Kong to take part in the Asian Financial Forum (AFF) 2025 where he is expected to meet top Chinese officials, financial experts and investors, state-run media reported on Sunday. 

The AFF is the region’s premier platform that brings together influential leaders from government, finance, and business communities globally for ground-breaking discussions and exchange of insights on the global economy from an Asian perspective. 

AFF 2024 brought together over 140 elite speakers from around the world and attracted over 3,600 visitors from more than 50 countries and regions, including over 70 overseas and mainland China delegations.

“Finance Minister Muhammad Aurangzeb has departed for Hong Kong to represent Pakistan in the eighteenth Asian Financial Forum,” Radio Pakistan reported. 

“During his visit, he will meet with heads and senior officials of major Asian financial institutions.”

The state media said Aurangzeb will meet Chinese and foreign officials, financial sector experts, professionals, investors and top businessmen during the summit. 

These include the heads of China International Capital Corporation Limited, China New Energy Sky Rail Limited and Asian Infrastructure Investment Bank, it added. 

The Pakistani finance minister will also hold interactions with foreign media, which include speaking to international publications such as Bloomberg, Nikkei Asia and other media representatives.

His visit to Hong Kong takes place as Pakistan attempts to ward off an economic crisis that has drained its resources and triggered a balance of payments headache for the country over the past two years. 

Pakistan has made some economic gains since 2023 by slashing inflation down to single-digit figures from a record high of 38 percent in May 2023 and registering gains in the stock market. 


Rating firm S&P says it won’t rush Iran war downgrades, sees risks for countries like Pakistan

Updated 12 March 2026
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Rating firm S&P says it won’t rush Iran war downgrades, sees risks for countries like Pakistan

  • Agency says it is monitoring indebted energy importers as higher oil prices strain finances
  • Gulf economies seen better placed to weather shock, though Bahrain flagged as vulnerable

LONDON: S&P Global ‌said it would not make any knee-jerk sovereign rating cuts following the outbreak of war in the ​Middle East, but warned on Thursday that soaring oil and gas prices were putting a number of already cash-strapped countries at risk.

The firm’s top analysts said in a webinar that the conflict, which has involved US and Israeli strikes ‌against Iran and Iranian ‌strikes against Israel, ​US ‌bases ⁠and Gulf ​states, ⁠was now moving from a low- to moderate-risk scenario.

Most Gulf countries had enough fiscal buffers, however, to weather the crisis for a while, with more lowly rated Bahrain the only clear exception.

Qatar’s banking sector could ⁠also struggle if there were significant ‌deposit outflows in ‌reaction to the conflict, although there ​was no evidence ‌of such strains at the moment, they ‌said.

“We don’t want to jump the gun and just say things are bad,” S&P’s head global sovereign analyst, Roberto Sifon-Arevalo, said.

The longer the crisis ‌was prolonged, though, “the more difficult it is going to be,” he ⁠added.

Sifon-Arevalo ⁠said Asia was the second-most exposed region, due to many of its countries being significant Gulf oil and gas importers.

India, Thailand and Indonesia have relatively lower reserves of oil, while the region also had already heavily indebted countries such as Pakistan, Bangladesh and Sri Lanka whose finances would be further hurt by rising energy prices.

“We ​are closely monitoring ​these (countries) to see how the credit stories evolve,” Sifon-Arevalo said.