Ex-JPMorgan Banker Set to Steer Cash-Strapped Pakistan Economy
- His most pressing challenge would be to secure new IMF loans
- Aurangzeb sees stable currency, expects IMF talks this week
This article is for subscribers only.
Pakistan’s Prime Minister Shehbaz Sharif picked a former banker from JPMorgan Chase & Co. as finance minister, marking a shift to using technocrats to steer the cash-strapped economy and negotiate for new loans from the International Monetary Fund.
Muhammad Aurangzeb, 59, was appointed to the position, the Finance Ministry confirmed in a post on X. His appointment suggests a shift in strategy for Sharif and his party who have relied on four-time finance minister and close ally Ishaq Dar in the past.