Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a productive meeting with representatives of Citibank on the sidelines of the World Bank–IMF Spring Meetings 2026.
During the meeting, the Finance Minister informed the Citi team that Pakistan has successfully concluded a Staff-Level Agreement with the International Monetary Fund (IMF) for the third review under the Extended Fund Facility (EFF) and the second review under the Resilience and Sustainability Facility (RSF), with approval by the IMF Executive Board expected imminently.
Senator Aurangzeb noted that Pakistan has met its external obligations in a timely manner, including the repayment of USD 1.4 billion on its Eurobond during the current month. He also acknowledged the continued and steadfast financial support extended by the Kingdom of Saudi Arabia.
On capital market developments, the Finance Minister informed that Pakistan has successfully re-entered international capital markets with a Eurobond issuance - its first in four years -reflecting renewed investor confidence in the country’s economic outlook.
He further apprised the Citi team of progress on Pakistan’s inaugural Panda bond issuance, noting that regulatory submissions have been completed and approval is being actively pursued with a view to completing the issuance in May.
Senator Aurangzeb outlined Pakistan’s broader Global Medium Term Note (GMTN) strategy, which envisages diversified issuances across multiple instruments, including Eurobonds, Sukuk, and rupee-linked, dollar-settled bonds.
The Finance Minister appreciated the detailed and structured capital markets strategy presented by Citibank and advised the team to maintain close coordination with Pakistan’s Debt Management Office (DMO) to support ongoing and future market engagements.
Concluding the meeting, Senator Aurangzeb appreciated Citibank’s longstanding presence in Pakistan and expressed a strong desire to further reinvigorate and deepen the partnership.
