Overview
- Muhammad Aurangzeb met Saudi Vice Minister Abdulmuhsen Al-Khalaf in Riyadh to discuss macroeconomic trends and expand cooperation.
- Pakistan affirmed appreciation for Saudi bilateral and multilateral support, with both sides agreeing to continue close tactical and strategic coordination.
- Aurangzeb said Pakistan has entered a new economic normal shaped by recurring climate shocks that erode fiscal space and slow recovery.
- He cited receipt of the first $200 million from the IMF’s Climate Resilience Fund and emphasized that the World Bank’s $20 billion framework requires bankable projects to unlock disbursements.
- The minister warned that 2022 floods caused about $30 billion in losses and renewed flooding this year will trim roughly 0.5 percentage points from growth, while criticizing slow, bureaucratic flows from the Green Climate Fund and the Loss and Damage Fund.