Finance Minister Muhammad Aurangzeb has held high-level meetings with World Bank President Ajay Banga, Fitch Ratings representatives and a Canadian official to discuss Pakistan’s economic reforms, financial stability, investment opportunities and bilateral cooperation.The meetings took place in Bangkok on the sidelines of the World Bank and International Monetary Fund (IMF) Annual Meetings, as Pakistan sought to highlight progress on economic reforms and explore opportunities to strengthen international financial and development cooperation.

Aurangzeb’s engagements covered Pakistan’s sovereign credit rating, access to global capital markets, investment protection, mining projects, technology cooperation and the impact of regional conflicts on energy and food security.The minister met World Bank President Ajay Banga during a dinner hosted by the Thailand prime minister in Bangkok on the sidelines of the World Bank and IMF Annual Meetings. During the meeting, Aurangzeb briefed Banga on the economic reforms currently underway in Pakistan, highlighting the country’s ongoing efforts to strengthen economic stability.

The federal finance minister and the State Bank of Pakistan governor also met representatives of Fitch Ratings to discuss Pakistan’s economic performance and sovereign credit rating. According to an official statement, the Pakistani delegation briefed the representatives on the country’s access to global capital markets, financial stability and sustained primary fiscal surpluses.

The discussions also covered inflation trends, exchange rate stability and the containment of the current account deficit. Officials highlighted an increase in foreign exchange reserves and a reduction in future debt repayment obligations. The meeting further addressed improvements in Pakistan’s capacity to withstand external economic pressures and respond to unforeseen circumstances.

Credit: Independent News Pakistan (INP)