BANGKOK:Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with representatives of Moody's on the sidelines of the World Bank Group-IMF Annual Meetings 2026 in Bangkok, Thailand, to discuss Pakistan's economic outlook and sovereign credit profile.
Discussions covered the recent rating upgrade, improved fiscal and external indicators, and renewed access to international capital markets. The Finance Minister outlined efforts to replace costly, short-term debt with longer-maturity financing without increasing the external debt stock.
The delegation highlighted rising foreign exchange reserves, a contained current account deficit and reduced State Bank forward liabilities. The Finance Minister reaffirmed commitment to structural reforms and sustainable, export-led growth beyond the IMF programme.
He also sought Moody's views on achieving a stronger rating and striking the right balance between political risk and economic performance in its assessments.
Meanwhile Senator Muhammad Aurangzeb, participated in the Bank of America (BoFA) Small Talks Symposium to discuss Pakistan's economic outlook and reform agenda.
The Finance Minister highlighted Pakistan's renewed international markets access and efforts to replace costly, short-term debt with longer-maturity financing. He outlined improving external indicators, stronger foreign exchange reserves and positive net international reserves under the IMF definition. He reaffirmed Pakistan's commitment to completing the IMF programme and sustaining policy credibility beyond it.
Discussions covered tax administration reforms, broadening the tax base, privatization and growing investor interest. The Finance Minister emphasized sustainable, export-led growth through tariff reforms, competitive inputs and targeted financing.
He also outlined measures to manage regional conflict, energy-price pressures and climate shocks while strengthening trade and investment partnerships.
Meanwhile Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with the leadership of Alibaba International Digital Commerce (AIDC) to review cooperation on Pakistan's digital economy.
Discussions covered digital payments, a cashless economy and transparent delivery of social protection payments and targeted subsidies. The Finance Minister appreciated Alibaba's support for SMEs, local brands and exports through Daraz and http://Alibaba.com. He also invited proposals to rationalize e-commerce taxation, balancing fairness with broader tax participation.
Both sides discussed accelerating the Pakistan Single Window e-commerce platform and improving the tracking of cross-border payments and export proceeds. Cooperation on cloud infrastructure, artificial intelligence (AI) and tax administration was also reviewed, with emphasis on integrated data systems, cybersecurity and institutional capacity.
The two sides also explored modernizing Pakistan Post's sorting systems and expanding agricultural exports to China through Alibaba's retail network.
Meanwhile Senator Muhammad Aurangzeb, met with UN Deputy Secretary-General Ms. Amina J. Mohammed to review development financing, debt and climate resilience.
The Finance Minister discussed strengthening the Borrowers' Forum through peer learning, continuity in governance and an effective virtual Secretariat. He emphasized a stronger Global South voice and more responsive international financial institutions.
Both sides stressed adequate financing for the Sustainable Development Goals, poverty reduction, social protection and decent jobs. Discussions also covered climate financing gaps, simpler access to funds and stronger capacity to prepare bankable projects.
The Finance Minister further highlighted local currency financing to reduce exchange rate risks, alongside accountable domestic policymaking. He thanked Ms. Amina for appreciating Pakistan's mediation efforts in the recent US-Iran crisis.
Meanwhile Senator Muhammad Aurangzeb, met with Engineer Adeeb Y. Al Aama, Chief Executive Officer of the International Islamic Trade Finance Corporation (ITFC) to discuss financing cooperation and trade development.
The Finance Minister highlighted Pakistan's economic progress, stronger reserves and renewed access to international capital markets. Both sides reviewed the remaining financing tranche and discussed aligning borrowing costs with improved market conditions. They agreed that technical teams would explore pricing and financing-volume adjustments to find a mutually acceptable solution.
The Finance Minister further outlined efforts to replace costly, short-term borrowing with longer-maturity financing without increasing external debt.
Discussions also covered digital product passports to support textile exports to the European Union and single-window connectivity to facilitate ASEAN trade. Both sides reaffirmed their long-term partnership and commitment to strengthening Pakistan's export competitiveness.
Meanwhile Senator Muhammad Aurangzeb, met with Dr. Abdulhamid Alkhalifa, President of the OPEC Fund for International Development, on the sidelines of the World Bank Group-IMF Annual Meetings 2026 in Bangkok, Thailand.
The Finance Minister highlighted Pakistan's economic stabilization, progress under the IMF programme and renewed access to international capital markets. He appreciated the Fund's willingness to expand trade and project financing support for Pakistan.
Discussions covered M6 motorway financing, including the approved first tranche, the pending loan agreement and subsequent tranches. The discussions also identified the ML-1 railway modernization and power transmission infrastructure as key priorities.
Both sides emphasized faster approvals and stronger coordination to ensure timely project delivery, while also discussing regional peace and stability.
The Finance Minister thanked Dr. Alkhalifa for the invitation to visit the Fund, with the possibility of signing the project agreement during the visit.