Pakistan: Twelfth and Final Review Under the Extended Arrangement, Request for Waivers of Nonobservance of Performance Criteria, and Proposal for Post-Program Monitoring-Press Release; Staff Report; and Statement by the Executive Director for Pakistan

IMF Staff Country Reports, October 13, 2016

Source details

Canonical URL

Pakistan: Twelfth and Final Review Under the Extended Arrangement, Request for Waivers of Nonobservance of Performance Criteria, and Proposal for Post-Program Monitoring-Press Release; Staff Report; and Statement by the Executive Director for Pakistan

Other formats

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• Structured JSON version
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Bibliographic details

• Published: October 13, 2016
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781475544183.002

Key findings and summary

• The paper covers Pakistan’s Twelfth and Final Review Under the Extended Arrangement, Request for Waivers of Nonobservance of Performance Criteria (PCs), and Proposal for Post-Program Monitoring.
• The authorities met most PCs at end-June 2016, but the PCs on the budget deficit and Net Domestic Assets (NDA) of the State Bank of Pakistan were missed by small margins.
• All program indicative targets were met.
• Structural benchmarks on financial sector reform, privatization, and energy sector reform were met.
• IMF staff supports the authorities’ request for completion of the twelfth review under the arrangement and for waivers for nonobservance of the end-June PCs on the budget deficit and NDA.

Performance criteria and compliance

• Timing referenced: end-June 2016.
• Nonobservance: PCs on the budget deficit and Net Domestic Assets (NDA) of the State Bank of Pakistan were missed by small margins.
• Compliance: Most other PCs met; all program indicative targets met.

Structural benchmarks

• Benchmarks met in:
  • Financial sector reform
  • Privatization
  • Energy sector reform

IMF staff recommendation

• Support for:
  • Completion of the twelfth review under the arrangement
  • Waivers for nonobservance of the end-June PCs on the budget deficit and NDA

Content in this bundle

• _cr16325 — Executive Summary
  • _cr16325 — Executive Summary (Markdown version)
  • _cr16325 — Executive Summary (PDF)