Aurangzeb heads to Bangkok for IMF and World Bank annual meetings, 12 to 18 October, with 60 meetings planned

Finance Minister Muhammad Aurangzeb left for Bangkok on Saturday to lead Pakistan's delegation at the IMF and World Bank Group annual meetings, which run from 12 to 18 October, Dawn reported from a finance ministry statement. Thailand is hosting more than 15,000 participants from 191 countries.

The ministry says he will hold more than 60 high-level meetings in the week.

Who Aurangzeb will meet at the IMF and World Bank meetings

• IMF and World Bank leadership, including the IFC and MIGA, on Pakistan's economic outlook, reforms and private sector growth.
• The IMF managing director's meeting with finance ministers and central bank governors of the Middle East, North Africa, Afghanistan and Pakistan region.
• The three rating agencies: Fitch, Moody's and S&P Global.
• The US Treasury, on economic cooperation and Pakistan's reform and investment plans.
• Bilateral meetings with Saudi Arabia, China, Turkiye, Iran, the UK and Thailand.
• Lenders including the Asian Infrastructure Investment Bank, the OPEC Fund, the Saudi Fund for Development, the Islamic Trade Finance Corporation, JICA and the ECO Trade and Development Bank.
• Alibaba International Digital Commerce, on e-commerce and digital investment.

He will also speak at investor seminars and sovereign investor forums.

Why the rating agency meetings matter to you

The ministry says the government wants to return to international capital markets. A better credit rating lowers what Pakistan pays to borrow abroad, and that cost flows into the budget, the rupee and, over time, the interest rates banks charge here. The State Bank's policy rate stands at 11.5% and the 12-month KIBOR at 12.73% (see the policy rate page and KIBOR page), which set the cost of car loans, home loans and business credit.

If you are paying off a loan, our car loan calculator and home loan calculator show how a change of one percentage point moves your monthly instalment.

The government's message

The finance ministry describes Pakistan as moving from stabilisation towards investment and export-led growth, with stronger fiscal and external buffers, structural reforms, more jobs and wider financial inclusion. Remittances, one of those buffers, reached $10.9 billion in July to September, up 14% (our report).

The rupee is at Rs 277.00 to the dollar on the interbank market today (dollar rate).

We will report the outcomes of the IMF and rating agency meetings as statements are issued during the week.