Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with the J.P. Morgan delegation on the sidelines of the World Bank Group–IMF Annual Meetings 2026 in Bangkok, Thailand, to discuss Pakistan’s economic outlook, credit ratings and financing strategy.
The Finance Minister highlighted progress under the IMF programme, stronger reserves and restored market access, reaffirming the government’s commitment to structural reforms. Both sides discussed Pakistan’s ambition to enter the BB rating category, with J.P. Morgan offering analytical support on key indicators and institutional improvements.
Discussions covered Sukuk, rupee-denominated dollar-settled bonds, Panda bonds and possible Eurobond tokenization, and prioritizing debt replacement and longer maturities. The Finance Minister thanked J.P. Morgan for its advice on an opportunistic approach amid global interest rate risks and investor engagement and private placement underwriting support.
Both sides also reviewed Multilateral Investment Guarantee Agency (MIGA)-backed financing, International Finance Corporation (IFC)-supported Diversified Payment Rights (DPR) transaction, rupee financing and potential loan conversions. Discussions further covered resilient remittance flows, regional risks, and potential debt swaps, credit enhancement and secured financing.
