Aurangzeb Briefs World Bank, Fitch, Canada in Bangkok

Finance Minister Muhammad Aurangzeb held a series of meetings in Bangkok on the sidelines of the World Bank and IMF Annual Meetings, covering economic reforms, financial stability, investment and bilateral cooperation.

World Bank President

Aurangzeb met World Bank President Ajay Banga at a dinner hosted by the Thai prime minister and briefed him on the economic reforms under way in Pakistan and efforts to strengthen economic stability.

Fitch Ratings

Together with the State Bank governor, he met Fitch Ratings representatives to discuss Pakistan’s economic performance and sovereign credit rating. According to an official statement, the delegation briefed them on:

• Access to global capital markets and sustained primary fiscal surpluses

• Inflation trends, exchange-rate stability and containment of the current account deficit

• A rise in foreign exchange reserves and lower future debt repayment obligations

• Improved capacity to withstand external pressures

Canada

Aurangzeb met Randeep Sarai, Canada’s parliamentary secretary to the minister of international development. Discussions covered:

• Cooperation in agriculture, agritech, livestock and food security

• Accelerating progress on an agreement to protect Canadian investments in Pakistan

• Barrick’s mining projects and their potential contribution to investment, exports and jobs

• IT services, AI-related skills and virtual assets

• Ways to increase remittances from the Pakistani diaspora, particularly in Canada

They also reviewed Pakistan’s mediation efforts and the impact of regional conflicts on energy supplies, fertiliser availability and global food security.