Pakistan: Third Review Under the Stand-By Arrangement

IMF Staff Country Reports, January 7, 2010

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Pakistan: Third Review Under the Stand-By Arrangement

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Bibliographic details

• Authors: Arrangement This
• Published: January 7, 2010
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451830767.002

Summary

• Paper discusses key findings of the Third Review Under the Stand-By Arrangement for Pakistan.
• Program implementation has been uneven but key reforms are moving forward.
• All end-September 2009 quantitative performance criteria were met, with the exception of the ceiling on the overall budget deficit.
• The tax revenue foregone in September was largely recovered in October.
• The wage bill overrun was self-correcting.
• On these grounds, the authorities request a waiver of nonobservance for the related end-September 2009 performance criterion.
• IMF staff recommends the completion of the program review.
• Publication date on the landing page: January 7, 2010.

Key findings and program performance

• Quantitative performance criteria:
  • All end-September 2009 quantitative performance criteria were met except the ceiling on the overall budget deficit.
• Fiscal adjustments and offsets:
  • Tax revenue foregone in September was largely recovered in October.
  • Wage bill overrun described as self-correcting.
• Policy actions and reform status:
  • Program implementation described as uneven.
  • Key reforms are moving forward.
• Institutional request and staff response:
  • Authorities request a waiver of nonobservance for the related end-September 2009 performance criterion.
  • IMF staff recommends completion of the program review.

Subjects and keywords (as listed)

• Subject: Banking, Credit, Expenditure, External debt, Foreign exchange, Money, Public debt
• Keywords: amendments to the State Bank of Pakistan, CR, Credit, Global, government, government employee, government policy, ISCR, reform project, staff appraisal, tax, timely disbursement

Content in this bundle

• Pakistan: Third Review Under the Stand-By Arrangement; IMF Country Report 10/06; December 14, 2009
  • Pakistan: Third Review Under the Stand-By Arrangement; IMF Country Report 10/06; December 14, 2009 (Markdown version)
  • Pakistan: Third Review Under the Stand-By Arrangement; IMF Country Report 10/06; December 14, 2009 (PDF)