WASHINGTON: Finance Minister Muh­ammad Auran­gzeb arrived in Washington on Sunday with his team to participate in the IMF and World Bank’s spring meetings and initiate talks on a new financial package ranging from $6 billion to $8 billion.

The IMF ministerial meetings and events are scheduled for April 17-19, with additional activities planned from April 15-20.

Mr Aurangzeb and his team have a packed schedule, including bilateral meetings with IMF and World Bank leaders, as well as senior officials from various international financial institutions. They will also hold discussions with finance ministers from China, Saudi Arabia, UAE, Turkiye, and other friendly nations attending the event.

Representing Pakistan at multilateral meetings, they are also expected to meet US officials, given the meetings are held in Washington.

Meanwhile, IMF Man­­a­g­ing Director Kristalina Georgieva mentioned that Pakistan still has crucial issues to resolve, acknowledging the country’s interest in a new loan arrangement.

This signifies the potential for a follow-up programme with the Fund after completing the current $3 billion stand-by arrangement later this month, as prime minister previously indicated the necessity for another deal with the IMF to stabilise Pakistan’s economy.