Pakistan is expected to request increased financial support to tackle its growing debt burden and climate vulnerabilities during the 2025 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group this week.
Finance Minister Muhammad Aurangzeb arrived in Washington on Sunday, leading a high-level delegation that includes State Bank of Pakistan Governor Jameel Ahmed, Finance Secretary Imdad Ullah Bosal, and other senior officials.
According to the State Bank of Pakistan, the country faces external debt repayments totaling $30.6 billion in the coming months, placing significant pressure on fiscal resources and limiting development spending.
In addition to debt concerns, Pakistan is actively pursuing greater access to global climate finance. The World Bank estimates that Pakistan requires between $7 billion and $14 billion annually for climate adaptation efforts, while other assessments suggest the need could be as high as $60 billion per year.
Recently, the IMF approved $1.3 billion in concessional financing for Pakistan under its Resilience and Sustainability Trust, aimed at supporting emission reduction, climate adaptation, and resilience against climate shocks.
The IMF has acknowledged Pakistan’s recent progress in stabilizing its economy, reducing inflation, improving financial conditions, and strengthening its external position.
The spring meetings come amid increasing international calls for comprehensive debt relief. Civil society organizations, faith-based groups, and even Pope Francis have urged major financial institutions to reform debt mechanisms, arguing that excessive liabilities hinder developing countries from investing in sustainable development and climate resilience.
The World Bank’s 2024 International Debt Report highlighted that since 2022, foreign private creditors have received $141 billion more in repayments from developing countries than they have extended in new financing, underscoring the growing debt challenges faced by nations like Pakistan.
