Pakistan : First Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Pakistan

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

December 23, 2019

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Recent economic developments. Decisive policy implementation since June has started to reverse Pakistan’s large imbalances, preserving financial stability. The external adjustment is proceeding quickly on the back of an orderly adjustment to a market-determined exchange rate. Fiscal performance was strong in the first quarter of FY 2020 and budgetary allocations to the Benazir Income Support Program (BISP) have been expanded. Growth has slowed, broadly in line with expectations, and market confidence is gradually returning. Inflation has started to stabilize and the State Bank of Pakistan has paused its interest rate hike cycle.

Series:

Country Report No. 19/380

English

Publication Date:

December 23, 2019

ISBN/ISSN:

9781513523880/1934-7685

Stock No:

1PAKEA2019002

Format:

Paper

Pages:

91

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