Bangkok:Finance Minister Muhammad Aurangzeb and the Governor of the State Bank of Pakistan met with representatives from Fitch Ratings during the World Bank Group-IMF Annual Meetings in Thailand. The discussions revolved around Pakistan’s economic performance and its sovereign credit outlook.
According to Radio Pakistan, the Finance Minister emphasized the country’s regained access to international capital markets, fiscal consolidation, and sustained primary surpluses. He also addressed trends in inflation, monetary policy, exchange rate stability, and the managed current account deficit.
The meeting also touched upon topics such as reserve accumulation, reduced forward liabilities, and fortified external buffers to better withstand economic shocks. The Pakistani delegation underscored improvements in debt sustainability, declining servicing costs, longer borrowing maturities, and assurances of bilateral rollovers.
Furthermore, the commitment to completing the IMF program, implementing structural reforms, and fostering export-led growth was reaffirmed by the delegation. The Finance Minister also discussed enhancing trade and investment engagements with the United States and sought Fitch’s assessment on advancing towards a BB rating category.
