ISLAMABAD, Oct 17 (APP): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb continued his engagements on the 5th day of his visit to Washington D.C., where he is attending the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group.
During the day, the finance minister participated in the high-level event titled “Financing in a Fragmented World” in Washington D.C., where he discussed the evolving global economic outlook and key challenges shaping growth prospects for 2025–26, said a news release.
In his address, the minister outlined major headwinds facing the global economy, including rising trade barriers and declining energy prices. He noted, however, that the global economy had demonstrated greater resilience than projected in April 2025, even amid reciprocal tariffs announced in recent months.
Senator Aurangzeb underscored that Pakistan’s trade and economic engagement with major partners had created new opportunities for growth. He cited ongoing trade negotiations with U.S. authorities, meetings with Chinese leadership, the new security arrangement with Saudi Arabia, and the launch of CPEC 2.0 as positive geopolitical developments supporting Pakistan’s economy.
The minister observed that increasing trade fragmentation was compelling countries to explore regional trade corridors and diversify their trading partnerships. He also drew attention to the extensive damage caused by recent floods in Pakistan, describing climate change as an existential challenge that requires global attention and coordinated action.
Meanwhile, Aurangzeb also met with the delegation of The Currency Exchange Fund (TCX) led by its Chief Investment Officer and Deputy CEO Othman Boukrami, in Washington D.C.
The minister was briefed on TCX’s operations focused on providing financing solutions in local currencies rather than in U.S. dollars. He welcomed TCX’s engagement to support Pakistan in developing mechanisms for local currency loan hedging.
Senator Aurangzeb informed the delegation that Pakistan aims to extend the maturity profile of both its domestic and external debt portfolios to mitigate refinancing and interest rate risks.
He also briefed the team on ongoing efforts to access International Capital Markets (ICM) through the planned issuance of Panda Bonds, Eurobonds, and International Sukuk.
The minister assured the TCX team of a detailed follow-up on the proposals submitted to the Ministry of Finance to enhance future cooperation.