IMF Staff Concludes the Scoping Mission for Governance and Corruption Diagnostic Assessment for Pakistan
An International Monetary Fund (IMF) scoping mission visited Islamabad from February 6 to 14, 2025, to lay the groundwork for a Governance and Corruption Diagnostic Assessment (GCD) at the request of the Government of Pakistan. The focus of the mission was to preliminarily assess governance and corruption vulnerabilities across six core state functions. These include fiscal governance, central bank governance and operations, financial sector oversight, market regulation, rule of law, and anti-money laundering and countering the financing of terrorism (AML-CFT). Over the course of the mission, the IMF team engaged with the Finance Division, Federal Board of Revenue, State Bank of Pakistan, Auditor General of Pakistan, Securities & Exchange Commission of Pakistan, and Ministry of Law & Justice, and the Supreme Court of Pakistan. In addition, the IMF team met with a range of other stakeholders, including business associations, civil society organizations, and international development partners. The IMF appreciates the commitment of the Government of Pakistan to this exercise and looks forward to continuing our collaboration. The IMF team for the GCD assessment will return to Pakistan later in this year to continue gathering information and exploring opportunities to strengthen governance and integrity, and economic outcomes in preparation for the eventual assessment.
February 18, 2025
Outreach on the 2024 Extended Fund Facility with Pakistan
The Resident Representative's office in Pakistan conducted outreach during October and November 2024 to discuss the key goals and policies under the recently approved 2024 Extended Fund Facility (EFF) in support of the authorities’ home-grown economic program. The events were hosted by prominent think tanks, academic institutions, and private sector organizations. During the discussions, participants highlighted the social impact of IMF reforms in Pakistan, as well as the interplay between energy policies, taxation under the EFF, and business growth. The Resident Representative outlined safeguards to protect real incomes and key social and development investments as fiscal consolidation progresses. She emphasized the need for structural reforms in the energy sector to sustainably reduce energy costs and the program’s focus on under-taxed sectors to create a more equitable taxation system. Additionally, she stressed the importance of fostering competition over subsidies for sustainable growth. Finally, she expressed optimism about the sustainability of reforms, noting the growing ownership of the reform agenda within Pakistan.
November 11, 2024
2024 Regional Economic Outlook for the Middle East and Central Asia: Outreach Mission to Pakistan
The Res Rep office conducted outreach on the 2024 Regional Economic Outlook for the Middle East and Central Asia, engaging academic establishments and think tanks in Bahawalpur, Islamabad, Lahore, Faisalabad, Peshawar, and Sukkur. Over 500 participants attended, with counterparts acknowledging the relevance and rigor of the economic impact of conflicts.
May 31, 2024
International Chartered Management Accountants, Pakistan (ICMAP): Interview with Esther Perez, IMF Resident Representative in Pakistan
The International Chartered Management Accountants, Pakistan (ICMAP), whose mission is to promote excellence amongst the liberal professions in the country, dedicated its 2024 March-April magazine to “Pakistan, IMF, and the Way”. In her interview with ICMAP, the IMF Resident Representative in Pakistan Ms. Esther Perez Ruiz, discussed the current economic situation and challenges facing Pakistan, and the IMF’s role in supporting Pakistan’s policies and reforms for economic stabilization and for stronger, more inclusive, and private-led growth that will benefit all Pakistanis.
May 14, 2024
Policy Outlook: A Conversation with Nathan Porter, IMF Mission Chief to Pakistan
In his conversation with Policy Outlook at the magazine of Suleman Dawood School of Business (SDSB) 360, issue 6, 2003, Nathan Porter shares his impressive professional journey leading him to his current role as the International Monetary Fund (IMF) Mission Chief to Pakistan. Mr. Porter’s policy acumen gained through a variety of leadership roles in different countries of the IMF’s membership made him an invaluable asset in facilitating the successful implementation of the recently completed Stand-by Arrangements amidst acute macroeconomic and political economy challenges facing Pakistan. Nathan’s inspiring testimonial of his work in Pakistan offers a beam of hope to its young and entrepreneurial population, as well as the economically disadvantaged, given the social orientation of IMF policies.
May 10, 2024
