Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held an important meeting with H.E. Mr. Lan Fo’an, Minister of Finance of the People’s Republic of China, on the sidelines of the World Bank–IMF Spring Meetings 2026.
During the meeting, the Finance Minister expressed deep appreciation for China’s long-standing and unwavering bilateral support to Pakistan, as well as the constructive role played by China’s Executive Director at the International Monetary Fund (IMF) in facilitating Pakistan’s programme engagements.
Senator Aurangzeb briefed his Chinese counterpart on Pakistan’s performance under the IMF programme, noting the successful conclusion of a Staff-Level Agreement for the third review under the Extended Fund Facility (EFF) and the second review under the Resilience and Sustainability Facility (RSF), with IMF Executive Board approval expected in early May.
The Finance Minister informed that Pakistan has successfully repaid its USD 1.4 billion Eurobond and has secured significant additional financial support from the Kingdom of Saudi Arabia to strengthen its external position.
He also provided an update on the progress of Pakistan’s inaugural Panda bond issuance, as part of efforts to diversify financing sources and deepen engagement with international capital markets.
Highlighting growing economic linkages, Senator Aurangzeb noted that the share of Pakistan–China trade settled in Renminbi (RMB) has increased significantly, underscoring the need for an expanded currency swap arrangement to support rising trade volumes.
The Finance Minister appreciated Minister Lan’s acknowledgement of Pakistan’s active role in facilitating dialogue and promoting stability in the region.
Reaffirming Pakistan’s commitment to regional cooperation, Senator Aurangzeb conveyed Pakistan’s full and unconditional support for the establishment of the Shanghai Cooperation Organization (SCO) Development Bank, particularly as Pakistan prepares to assume the SCO Presidency in September.
The meeting concluded with the Finance Minister expressing appreciation for the continued support extended by China’s Executive Directors at both the IMF and the World Bank.
