WASHINGTON: In order to take part in the IMF and World Bank’s spring meetings and start negotiations on a new finance package worth between $6 billion and $8 billion, Finance Minister Mahammad Aurangzeb and his delegation arrived in Washington on Sunday.
Ministerial meetings and events of the IMF are set for April 17–19; extra events are slated for April 15–19.
With bilateral meetings with leaders of the World Bank and IMF as well as senior officials from other international financial institutions, Mr. Aurangzeb and his team have a full itinerary. Alongside them at the event will be finance ministers from China, Saudi Arabia, the United Arab Emirates, Turkey, and other friendly countries.
Since the sessions are in Washington, they will likely encounter US officials while representing Pakistan in global meetings.
IMF Management Director Kristalina Georgieva acknowledged Pakistan’s interest in a fresh loan agreement while also pointing out that the nation still has important concerns to address.
This suggests that after the current $3 billion stand-by arrangement ends later this month, there may be a follow-up program with the Fund. The prime minister has already stated that another agreement with the IMF is required to stabilize Pakistan’s economy.
Julie Kozack, the Director of Communications at the IMF, mentioned earlier this month that Pakistan is keen to obtain its biggest loan facility to date and that she is willing to participate in program talks in the upcoming months.
During the spring meetings, the IMF is also anticipated to finalize the disbursement of the final tranche, totaling $1.1 billion, from the current arrangement.
The finance minister was greeted at the airport by Pakistan’s ambassador, Masood Khan, and other embassy representatives.
