WASHINGTON: Finance Minister Muhammad Aurangzeb has hailed Fitch Ratings’ recent upgrade of Pakistan’s credit outlook as a strong endorsement of the government’s ongoing reform agenda.
Speaking at the MENAP Ministers and Central Bank Governors’ Meeting with IMF Managing Director Kristalina Georgieva, the minister emphasized that the rating upgrade reflects growing international confidence in Pakistan’s economic direction.
The meeting took place on the sidelines of the IMF-World Bank Spring Meetings 2025 in Washington, D.C., where Senator Aurangzeb outlined Pakistan’s progress on structural reforms in taxation, energy, privatization, and the restructuring of state-owned enterprises (SOEs).
He reaffirmed the government’s commitment to improving fiscal discipline and enhancing institutional efficiency through rightsizing efforts.
Highlighting agriculture, information technology, and mining and minerals as priority sectors for growth, the Minister called for stronger regional trade corridors amid increasing global trade fragmentation.
He expressed gratitude to the World Bank for its support through the Country Partnership Framework (CPF), particularly in areas of climate change and population management. Senator Aurangzeb also briefed participants on Pakistan’s recent Staff-Level Agreement with the IMF for a new Resilience and Sustainability Facility (RSF), aimed at addressing climate vulnerabilities and boosting long-term economic resilience.
The Minister concluded by voicing Pakistan’s interest in deepening technical cooperation with the IMF to bolster institutional capacity and reiterated the importance of developing investable, private sector-led projects to drive sustainable growth.
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