Finance Minister Muhammad Aurangzeb on Tuesday briefed Moody’s Investors Service on Pakistan’s economic reforms and efforts to re-enter global financial markets. He said Pakistan is moving forward with a reform-driven strategy and aims to launch its first Panda bond — a renminbi-denominated bond to be floated in China.
The finance minister was joined by State Minister for Finance Bilal Azhar Kayani and State Bank Governor Jameel Ahmad during the meeting in Islamabad. The team highlighted improvements in key areas, including falling inflation, exchange rate stability, and a current account surplus. Foreign reserves crossed $14 billion in June, boosted by strong remittances and exports.
Aurangzeb said the government had completed its final IMF review under the $3 billion SBA and made progress under the Resilience and Sustainability Facility (RSF). He assured that reforms — including digital tax enforcement and SOE restructuring — are under way, with no reliance on short-term fixes.
The minister also revealed Pakistan had secured $1 billion in commercial financing from Middle Eastern institutions. Alongside the Panda bond, the government is considering a return to the Eurobond market, depending on future credit rating improvements.
Talks with the U.S. on preferential tariffs for Pakistani exports are making “encouraging headway,” he added. Aurangzeb ended by reaffirming Pakistan’s commitment to long-term, export-led growth, positioning the country as a credible destination for global investors.