Pakistan Appoints Ex-Banker Muhammad Aurangzeb as New Finance Minister to Secure IMF Loans and Stabilize Cash-Strapped Economy

• Pakistan's new PM Shehbaz Sharif appointed former JPMorgan banker Muhammad Aurangzeb as finance minister • Aurangzeb's priority is securing at least $6B in IMF loans to address Pakistan's cash-strapped economy • Pakistan also needs to unlock $1.1B IMF tranche and address $1B bonds maturing in April • Aurangzeb brings experience as former CEO of Habib Bank, Pakistan's largest bank • Sharif has track record of reforms and securing IMF deals, but some are still pessimistic about Pakistan's economy