Pakistan’s finance minister met US Treasury Under Secretary for International Affairs Erin Browne in Bangkok on October 16, 2026, to discuss economic reforms, external financing and regional risks, according to Pakistan’s Press Information Department.
Muhammad Aurangzeb, accompanied by the State Bank governor, highlighted Pakistan’s $3 billion Eurobond issuance in September and plans to diversify funding through Sukuk, Panda bonds and other instruments.
Financing options
Sukuk are Islamic finance securities, while Panda bonds are yuan-denominated bonds issued in China’s domestic market by foreign borrowers. Discussing these options does not mean new borrowing agreements have been signed or that the United States has committed financing.
Reforms and risks
The minister discussed IMF programme progress, tax reforms, reserves of approximately $21.6 billion, export competitiveness and debt sustainability. The talks also addressed energy, inflation, food security and winter supplies.
Separately on October 17, Aurangzeb met J.P. Morgan representatives to discuss capital-market instruments, longer maturities and credit-rating goals. Any proposed transactions remain subject to further decisions and market conditions.
Sources: Pakistan Press Information Department, October 16; Pakistan Press Information Department, October 17.