Pakistan thanks China for strong support during IMF talks

Finance Minister Muhammad Aurangzeb on Friday expressed appreciation for China’s continued bilateral support at the International Monetary Fund (IMF), as well as the constructive role played by its Executive Director in facilitating Pakistan’s programme engagements.

During a meeting with Chinese finance minister Lan Fo’an, Aurangzeb praised China’s long‑standing support for Pakistan and the positive role of China’s executive director at the IMF in helping Pakistan with its programme. Aurangzeb briefed his Chinese counterpart on Pakistan’s progress under the IMF programme, including the successful completion 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 Board approval expected in early May.

He also informed China that Pakistan has repaid a 1.4 billion‑dollar Eurobond and secured fresh financial support from Saudi Arabia. The minister discussed Pakistan’s plan to issue its first Panda Bond and noted the rising share of bilateral trade settled in Chinese Renminbi.

He underlined the need for a larger currency‑swap facility to support rising trade volumes. Aurangzeb further appreciated China’s recognition of Pakistan’s mediation role in the regional conflict and reaffirmed full support for setting up the SCO Development Bank during Pakistan’s upcoming presidency of the Shanghai Cooperation Organization (SCO).

In a separate meeting with People’s Bank of China Governor Pan Gongsheng, the finance minister shared updates on IMF reviews and Pakistan’s financing strategy, asked for faster approvals for the Panda Bond, and highlighted Pakistan’s active policy steps to manage the economic impact of the ongoing regional conflict, including targeted subsidies and demand‑management measures. Pan Gongsheng invited the finance minister to visit Beijing in the near future.