WASHINGTON, April 17, 2026 — Pakistan’s Finance Minister Muhammad Aurangzeb held talks with the governor of China’s central bank on Thursday, seeking expedited approval for Islamabad’s planned Panda bond issuance and reaffirming economic cooperation between the two countries, the finance ministry said.
Aurangzeb met People’s Bank of China (PBOC) President Dr. Pan Gongsheng on the sidelines of the World Bank–IMF Spring Meetings 2026, where he expressed appreciation for China’s continued support for Pakistan at the International Monetary Fund (IMF), particularly at the Executive Board level.
The finance minister informed the Chinese central bank chief that Pakistan had reached a staff-level agreement with the IMF for the third review under the Extended Fund Facility (EFF) and the second review under the Resilience and Sustainability Facility (RSF). Final approval by the IMF Executive Board is expected shortly.
He also briefed Dr. Pan on Pakistan’s external financing position, noting that the country had recently met Eurobond repayment obligations and secured additional financial support from Saudi Arabia.
Aurangzeb said Islamabad is moving ahead with preparations for its inaugural Panda bond issuance in China’s onshore debt market and requested expedited clearance from the National Association of Financial Market Institutional Investors (NAFMII), which oversees foreign bond issuance approvals.
The finance minister also highlighted the economic impact of ongoing regional geopolitical tensions, saying the government had introduced targeted subsidies and demand-management measures to cushion domestic markets.
According to the statement, Aurangzeb provided assurances on macroeconomic stabilisation efforts under Pakistan’s IMF programme, which aims to strengthen fiscal discipline, external buffers and structural reforms.
Dr. Pan welcomed Pakistan’s progress on macroeconomic adjustments and extended an invitation to Aurangzeb to visit Beijing in the near future to further deepen financial cooperation.
Pakistan has increasingly relied on China as a key financial partner in recent years, alongside Saudi Arabia and multilateral lenders, as it navigates recurring balance-of-payments pressures and external financing gaps.