Pakistan is seeking an additional $2 billion from the International Monetary Fund (IMF) to address the pressing challenges posed by climate change. This request will be presented by Finance Minister Muhammad Aurangzeb during the IMF's annual meetings, which are scheduled to conclude on October 26.

This move follows a previous request for $1.5 billion in climate financing that was not approved by the IMF. The new funding aims to support Pakistan's Climate Resilience and Sustainability Facility, which is designed to promote economic stability and sustainable development in the face of climate-related impacts.

In preparation for this request, the Pakistani government has implemented various fiscal measures, including passing a budget for FY24 that targets a primary surplus of approximately 0.4% of GDP. Additionally, the administration has committed to maintaining a market-determined exchange rate and reducing inflation.

Minister Aurangzeb will attend the meetings alongside other financial officials, emphasizing the urgency of addressing climate issues in Pakistan, as highlighted in discussions with IMF Managing Director Kristalina Georgieva earlier this year.