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WASHINGTON: Finance Minister Muhammad Aurangzeb has described that China’s initial response to Pakistan’s request for extended debt maturities related to the Belt and Road Initiative as positive and encouraging.

Speaking to US media and at think tank events, Mr Aurangzeb suggested that Pakistan might achieve greater debt flexibility as it manages the burden of past borrowing. He emphasised the necessity of comprehensive structural reforms, as required by the recent $7 billion loan agreement with the International Monetary Fund (IMF).

Mr Aurangzeb is currently in Washington to participate in the annual meetings of the IMF and the World Bank. During his visit, he has also engaged in bilateral discussions with US officials and finance ministers from allied nations.

At an event hosted by Jihad Azour, IMF’s Director for the Middle East and Central Asia, Mr Aurangzeb identified key priorities, including broadening the tax........

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