Finance Minister departs for US to attend IMF, WB meetings

ISLAMABAD: Federal Minister of Finance and Revenue, Senator Muhammad Aurangzeb departed for the United States to participate in the annual meetings of the International Monetary Fund (IMF) and the World Bank (WB).

Federal Finance Minister Senator Muhammad Aurangzeb has departed for America where he will attend the annual meetings of IMF and World Bank.

The Finance Minister will meet the Finance Ministers of China, United Kingdom, Saudi Arabia, United Arab Emirates, and Turkey. He will also meet representatives of IMF and World Bank during US visit.

The meetings will be held with top officials of the US State and Treasury Departments while meeting with officials of international credit rating agencies and commercial banks.

The meetings are also scheduled with officials of investment banks in the Middle East. The federal minister will address investment forums and seminars.

During the visit, the Finance Minister will visit leading American think tanks and will also give interviews to international and American media representatives. The Minister will address investment forums and seminars, sharing Pakistan’s economic outlook.

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Earlier,  Pakistan is set to request $2 billion in climate financing from the International Monetary Fund (IMF). This follows an earlier request for a $1.5 billion loan made by Prime Minister Shehbaz Sharif during his meeting with IMF Managing Director Kristalina Georgieva at the United Nations General Assembly (UNGA) in New York.

According to sources, Finance Minister Muhammad Aurangzeb will formally make the $2 billion request during the IMF’s annual meetings. The Ministry of Finance has completed its preparations for the request, and discussions will also take place with the World Bank president regarding financing for climate projects.