KARACHI: Federal Minister for Finance and Revenue Muhammad Aurangzeb met with officials from a global bank on Tuesday to discuss sovereign financing options and potential cooperation as the government continues to work with external partners on debt management and capital market issues, said an official statement.
The discussions with Citibank came amid Pakistan’s efforts to strengthen its economy under a $7 billion International Monetary Fund (IMF) loan program. While the IMF has acknowledged progress, it has also cautioned that the country’s recovery remains fragile and warned that high public debt, fiscal pressures and exposure to external shocks continue to pose risks to long-term stability.
“The meeting provided an opportunity to engage on sovereign financing solutions and review potential avenues for cooperation between the Government and Citibank,” the finance ministry said.
The term “sovereign financing solutions” is used to cover financing, debt management and market-related services offered to governments.
The statement said the finance minister’s team overseeing debt management, capital markets and other relevant policy areas was also present at the meeting.
