Pakistan is expected to receive the next $1.3 billion tranche from the International Monetary Fund (IMF) shortly, Finance Minister Muhammad Aurangzeb said during a briefing with international media in Washington, D.C..
Aurangzeb stated that there is currently no need to expand or revise Pakistan’s existing IMF program, adding that the country would only consider approaching the Fund again if economic conditions deteriorate. He reiterated the government’s commitment to maintaining macroeconomic stability and meeting external debt obligations on time.
The finance minister noted that Pakistan is actively exploring multiple financing avenues, including Eurobonds, Sukuk, and commercial borrowing. He added that the country’s foreign exchange reserves currently cover about 2.8 months of imports.
He also highlighted plans to issue Pakistan’s first Panda Bond worth around $250 million, with the broader program potentially scaling up to $1 billion, supported by the Asian Development Bank and the Asian Infrastructure Investment Bank.
Aurangzeb said remittances are projected to reach $41.5 billion in the current fiscal year, while economic growth is expected to remain near 4%. He acknowledged that rising global oil prices, driven by tensions in the Middle East, are adding pressure on the economy.
To address energy and external vulnerability risks, he said the government is considering building strategic petroleum reserves and expanding LPG and fuel storage capacity, alongside accelerating a shift toward renewable energy.
During his visit, Aurangzeb met senior IMF officials, representatives of the United States Department of the Treasury, the Saudi Fund for Development, and Mastercard, as part of broader discussions on Pakistan’s economic program and financial cooperation.
