FinMin Aurangzeb seeks US backing for global marke…

Pakistan has sought stronger support from the United States to improve its access to international capital markets, strengthen foreign exchange reserves and enhance its sovereign credit ratings as part of its broader strategy to accelerate economic growth and attract foreign investment.

Finance Minister Muhammad Aurangzeb discussed these priorities during a meeting with US Treasury Secretary Scott Bessent in Washington. The meeting focused on Pakistan’s economic progress, financial reforms and opportunities to deepen economic cooperation between the two countries.

During the talks, Aurangzeb briefed the US treasury secretary on Pakistan’s improving economic outlook. He said the country has successfully moved beyond the phase of macroeconomic stabilization and is now entering a period focused on sustainable, export-led growth. He noted that ongoing structural reforms and prudent fiscal management have helped improve economic stability and restore investor confidence.

The finance minister also highlighted the challenges posed by regional geopolitical tensions. He said instability in the region has affected Pakistan’s economy and continues to create uncertainty for trade, investment and financial markets. He emphasized that stronger international cooperation would help Pakistan maintain economic stability despite these external challenges.

Aurangzeb requested greater US support to help Pakistan improve access to international capital markets. He said easier access to global financing would strengthen the country’s financial position, increase foreign exchange reserves and improve sovereign credit ratings, making Pakistan more attractive to international investors.

The two sides also discussed ways to expand bilateral economic cooperation. They reviewed opportunities to increase US investment in Pakistan and explored prospects for advancing strategic development and investment projects that could strengthen economic ties between the two countries.

Both governments reaffirmed their commitment to enhancing economic relations, promoting investment and supporting initiatives aimed at expanding trade and long-term financial cooperation.

Separately, Aurangzeb held a virtual meeting from Washington with senior representatives of international banking consortia participating in Pakistan’s Global Medium-Term Note Programme and International Sukuk Programme.

The meeting marked the beginning of a strategic partnership with selected international financial institutions that will assist Pakistan in raising funds from global capital markets through both conventional bonds and Islamic financing instruments.

The banking consortia have been appointed for a three-year period and will support future sovereign bond and Sukuk issuances whenever the government decides to enter international financial markets in line with its financing strategy.

Officials said Pakistan’s return to international capital markets has become more feasible due to significant improvements in the country’s macroeconomic environment. Continued fiscal discipline, stronger external financial buffers, better debt management and ongoing structural reforms have improved investor confidence and strengthened Pakistan’s economic credibility.

Government officials believe these improvements have also contributed to better market sentiment, with international investors showing growing confidence in Pakistan’s economic reforms and long-term growth prospects.