Pakistan: 2007 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Pakistan
IMF Staff Country Reports, January 17, 2008
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- Pakistan: 2007 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Pakistan
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Bibliographic details
- Published: January 17, 2008
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451830712.002
Overview
- Pakistan’s economy continued to perform strongly owing to sound macroeconomic management and structural reform.
- Publication date: January 17, 2008.
- Series: Country Report No. 2008/021.
- Pages: 55.
- Issue: 021.
- Volume: 2008.
- DOI: https://doi.org/10.5089/9781451830712.002.
- ISBN: 9781451830712.
- ISSN: 1934-7685.
- Stock No: 1PAKEA2008001.
Major findings and assessments
- Macroeconomic performance:
- Pakistan’s economy continued to perform strongly owing to sound macroeconomic management and structural reform.
- External sector and inflation:
- Executive Directors advised that tight fiscal and monetary policies are required to reduce inflation and the external current account deficit while lessening pressures on real interest rates.
- Legal and regulatory developments:
- Directors welcomed the enactment of the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CLT) ordinance.
- Structural reforms and public management:
- Directors underscored the need to modernize the energy sector’s regulatory and tariff framework and revive the privatization process.
- Directors urged action to strengthen public financial management.
Policy recommendations
- Fiscal and monetary policy:
- Maintain tight fiscal and monetary policies to:
- Reduce inflation.
- Reduce the external current account deficit.
- Lessen pressures on real interest rates.
- Legal and financial integrity:
- Implement and build on the AML/CLT ordinance to strengthen anti-money laundering and counter–financing of terrorism frameworks.
- Energy and privatization:
- Modernize the energy sector’s regulatory and tariff framework.
- Revive the privatization process for relevant state-owned enterprises.
- Public financial management:
- Take actions to strengthen public financial management systems and practices.
Subjects and keywords
- Subject: Balance of payments, Current account deficits, Expenditure, External debt, Foreign exchange, Public debt.
- Keywords: consultation, consultation informational annex, CR, Current account deficits, deficit, financing of the budget point, Global, government, import growth, ISCR, SBP's financing, WEO oil price.
Source: Pakistan: 2007 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Pakistan, January 17, 2008.