IMF Staff Concludes Visit to Pakistan

November 15, 2024

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.
  • IMF team visited Pakistan to engage with the federal and provincial governments, the State Bank, as well as representatives from the private sector on economic developments and policies.
  • IMF staff and the Pakistani authorities held constructive discussions on economic policy and reform efforts to reduce vulnerabilities and lay the basis for stronger and sustainable growth.

Islamabad, Pakistan: An International Monetary Fund (IMF) mission led by Mr. Nathan Porter concluded a staff visit to Pakistan from November 12 to 15, 2024. During the visit, the IMF team met with senior officials from federal and provincial governments and the State Bank, as well as representatives from the private sector.

Staff visits are a standard practice for countries with semi-annual program reviews and aim to engage with the authorities and other stakeholders on the country’s economic developments and policies and the status of planned reforms.

At the end of the visit, Mr. Porter issued the following statement:

“We had constructive discussions with the authorities on their economic policy and reform efforts to reduce vulnerabilities and lay the basis for stronger and sustainable growth. We agreed with the need to continue prudent fiscal and monetary policies, revenue mobilization from untapped tax bases, while transferring greater social and development responsibilities to provinces. In addition, structural energy reforms and constructive efforts are critical to restore the sector’s viability, and Pakistan should take steps to decrease state intervention in the economy and enhance competition, which will help foster the development of a dynamic private sector. Strong program implementation can create a more prosperous and more inclusive Pakistan, improving living standards for all Pakistanis.

We are encouraged by the authorities’ reaffirmed commitment to the economic reforms supported by the 2024 Extended Fund Facility (EFF). The next mission associated with the first EFF review is expected in the first quarter of 2025.

 

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