KARACHI: Pakistan’s Finance Minister Muhammad Aurangzeb on Monday held high-level meetings with World Bank and International Finance Corporation officials that focused on debt management strategies, economic reforms and investment to stabilize the South Asian country’s fiscal outlook.
Aurangzeb is in Washington to represent his country at the annual International Monetary Fund-World Bank spring meetings, due to be held in Washington from Apr. 13-18. The meetings bring together central bankers, finance ministers and private sector leaders to discuss the global economy and financial stability.
In his meeting with World Bank Vice President Jorge Familiar Calderón, the finance minister underscored the critical role of the World Bank Group Treasury in supporting developing economies through enhanced access to capital markets, financial innovation, and advisory services in debt and risk management.
“The Finance Minister stressed the importance of knowledge exchange and capacity building, and called for enhanced technical support, advanced analytical tools, and specialized training for Pakistan’s Debt Management Office to strengthen long-term financial resilience,” the Pakistani finance ministry said.
The finance minister held a meeting with Makhtar Diop, managing director of the International Finance Corporation (IFC), during which both figures discussed private sector investment and capital market development.
“The Finance Minister appreciated the IFC’s continued support to Pakistan, particularly its role in mobilizing local currency financing. He underscored the importance of further strengthening IFC’s engagement to boost private sector investment, enhance productivity, and promote job creation in the country,” the Pakistani finance ministry said.
“Aurangzeb requested IFC’s support in developing Pakistan’s capital markets, drawing on successful models from comparable economies... The meeting reaffirmed the strong partnership between Pakistan and IFC and underscored the shared commitment to promoting sustainable economic growth through private sector development.”
Aurangzeb also met with World Bank’s managing director for operations, Anna Bjerde, where discussions encompassed Pakistan’s reforms and social protection agenda.
“The Finance Minister appreciated the World Bank Group’s longstanding support to Pakistan’s reform and development agenda,” his ministry said. “The two sides discussed Pakistan’s economic outlook, including the management of first and second-order effects arising from the ongoing conflict in the Middle East.”
The Pakistani finance ministry said that both sides agreed on the importance of strengthening social protection measures to cushion the impact of external shocks on vulnerable segments of the population.
