Muhammad Aurangzeb Urges Lenders to Align Terms with Ratings
Muhammad Aurangzeb, finance minister of Pakistan, urged international lenders in Bangkok to ease borrowing terms following credit rating upgrades and fiscal improvements.
Finance Minister Muhammad Aurangzeb held talks with IMF, MIGA, and AIIB leaders at annual meetings in Bangkok.
Aurangzeb requested cheaper loan pricing and guarantee terms, pointing to credit rating upgrades and falling deficits.
Pakistan's fiscal deficit dropped to 2.6% of GDP from 12.5%, with three straight years of primary budget surpluses.
Discussions with the Asian Infrastructure Investment Bank included funding for power lines and the Karachi-Rohri railway track.