Finance Minister Aurangzeb is hoping for an early approval by the IMF board to keep the reforms on track

Federal Finance Minister Muhammad Aurangzeb on Tuesday expressed hope for quick approval by the IMF Executive Board of the Staff-Level Agreement (SLA) when he met the Director of the Middle East and Central Asia Department of the International Monetary Fund (IMF) Jihad Azour on the sidelines of the World Bank-IMF Spring Meetings 2026, according to a post on X by the Ministry of Finance.

FinMin held a series of high-level meetings with international financial institutions, US officials and global business representatives on the sidelines of the World Bank-IMF Spring Meetings 2026 scheduled from April 13 to 18with a focus on economic reforms, investment and stability in the external sector on Tuesday.

During the meeting with the IMF official and the IMF mission to Pakistan, the Finance Minister “expressed appreciation for the successful Staff Agreement (SLA)” and said he expected an early approval “to maintain momentum in Pakistan’s reform programme”.

Aurangzeb also briefed Mr Azour on the economic implications of the ongoing conflict in the Middle East, describing it as “one of the most significant supply shocks in recent times”. He said the government was “actively managing the second- and third-order effects of the crisis, particularly in relation to economic growth and inflation”.

The finance minister “highlighted Pakistan’s successful repayment of Eurobonds” and reaffirmed the government’s commitment to meet “all other bilateral and multilateral external commitments in a timely manner”.

Both sides discussed progress on fiscal and structural reforms, as well as efforts to increase revenue mobilization, and agreed on “the importance of maintaining macroeconomic stability as a foundation for sustainable and inclusive economic growth,” according to the statement.

The finance minister also held talks with the executive director of the Saudi Arabian Development Fund (SFD), Sultan bin Abdulrahman Al-Marshad, on the same day and thanked the fund for its “continued support and its ongoing and future development cooperation” with Pakistan, the ministry said in a separate post on the X.

The two sides discussed the “implications of the ongoing conflict in the Middle East on global energy security and its potential economic impact”, with Aurangzeb expressing hope for “an early resolution of the conflict” and stressing “the importance of continued cooperation between Pakistan and Saudi Arabia”. They reaffirmed their “strong and long-standing partnership” and commitment to strengthening economic cooperation.

In a meeting with US Trade Representative Jamieson Greer, the minister “underscored the importance of strengthening economic relations between Pakistan and the US, particularly through increased trade and investment flows”, the Treasury Department said in a statement on X.

He emphasized Pakistan’s commitment to “promote a favorable business environment and improve market access to support sustainable economic partnerships”. Both sides held “constructive discussions on promoting bilateral trade and investment”, including “opportunities to expand market access for exports, facilitate greater investment flows and deepen commercial relations”.

They also “expressed satisfaction with the continued progress in ongoing trade negotiations” and reaffirmed their commitment to “achieve mutually beneficial results and support long-term economic growth”.

In a separate meeting with Tsutomu Yamamoto of the Multilateral Investment Guarantee Agency (MIGA), Aurangzeb welcomed a proposed short-term trade finance facility of “up to $500 million”, calling it important for “financing critical imports including food, fertiliser, energy and essential machinery”.

According to the ministry’s record, Aurangzeb “stressed the need to accelerate progress on the facility to ensure timely support for Pakistan’s external financing needs”. Referring to arbitration cases, he said MIGA’s “neutral facilitation would help achieve amicable solutions while protecting investor confidence and safeguarding national interests”.

The minister reaffirmed the government’s commitment to “promote sustainable investment and maintain economic stability” and to continue working closely with MIGA.

Aurangzeb also met Vice President and Global Head of Government Affairs and Public Policy at Google, Karan Bhatia, where he “appreciated Google’s ongoing initiatives in Pakistan, particularly its training and capacity building programs in artificial intelligence”.

He “praised the company for the landmark development of local assembly of Google Chromebooks in Pakistan” and its decision to open an office in the country in July 2026. Both sides discussed initiatives to promote AI development “across key sectors of the economy, including agriculture and manufacturing”, and reaffirmed their commitment to supporting Pakistan’s “broader digital transformation agenda”.

Along with meeting colleagues and financial leaders from China, Saudi Arabia, the United Arab Emirates, Turkiye and the United Kingdom, the Treasury Secretary is also expected to meet senior officials from the US State Department and the Treasury Department. He will also engage with senior representatives of global financial institutions and companies, including the management of major investment institutions and banks such as Franklin Templeton, Rothschild & Co, Citibank and JPMorgan Chase.

The spring meetings will begin in the shadow of war in the Middle Eastwhich has delivered a major shock to the global economy; a concern that was also raised at the Pakistan conference, where participants acknowledged that the regional conflict has created a difficult economic environment for most countries.

IMF and World Bank officials have said they will downgrade their forecasts for global growth while raising inflation forecasts, warning that emerging markets and developing countries will be hardest hit by higher energy prices and supply chain disruptions.