Aurangzeb to Request IMF Managing Director New Loan Program Today

Finance Minister Mohammad Aurangzeb will meet the Managing Director International Monetary Fund (IMF) Kristelina Georgieva in Washington to formally request a new and much bigger loan program today, sources informed ProPakistani.

Sources said that Governor State Bank of Pakistan Jameel Ahmed and the Secretary of Finance will attend the meeting alongside the finance chief.

As reported earlier by ProPakistani this week, the Finance Division has put together a briefing outlining measures aimed at tackling climate change and details of the upcoming budget allocation which will be presented to the lender.

It is expected that Aurangzeb’s meeting with Georgieva would likely result in the IMF Mission visiting Pakistan in May 2024 to further negotiate terms. This mission will collaborate with Pakistan’s economic team to formulate the new loan program and draft the budget for the upcoming financial year, sources added.

The IMF ministerial meetings are set to conclude today, with supplementary activities scheduled till April 20.

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