Islamabad: Minister for Finance Muhammad Aurangzeb held a virtual meeting with Johana Chua, Head of Emerging Markets Economies at Citigroup Global Markets, alongside representatives from the investment community. During this meeting, the Minister shared updates on Pakistan’s economic developments, focusing on the government’s reform agenda.

According to Radio Pakistan, the Minister highlighted a recent upgrade in Pakistan’s sovereign rating by Fitch, which he described as a positive validation of the country’s improving macroeconomic trajectory. Aurangzeb reiterated the government’s commitment to maintaining reforms and fiscal discipline, key components of its economic strategy.

The Minister informed the participants about the successful conclusion of a Staff Level Agreement with the International Monetary Fund (IMF), with the next tranche anticipated to be received on Tuesday. He also noted the approval of the Resilience and Sustainability Facility, describing it as a significant achievement for Pakistan.

Addressing growth priorities, Aurangzeb emphasized the country’s shift towards an export-led growth model. He noted a surge in IT services exports, which have reached $3.2 billion this year, underscoring the sector’s potential in driving economic growth.

The delegation from Citigroup appreciated the macroeconomic developments and reform measures undertaken by the government of Pakistan. Johana Chua welcomed the progress on the IMF programme and the ongoing commitment to fiscal consolidation, export growth, and tax reforms. She expressed Citigroup’s interest in continued engagement with Pakistan and support for its reform trajectory and international re-engagement.

Both parties agreed to maintain regular communication and explore opportunities for future collaboration.