Pakistan: Seventh, and Eighth Reviews of the Extended Arrangement under the Extended Fund Facility, Requests for Waivers of Nonobservance of Performance Criteria, and for Extension, Augmentation, and Rephasing of Access-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Pakistan
September 1, 2022
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Economic activity remained robust in FY22, fueled by loose fiscal policy and a delayed monetary response to inflationary pressures. These combined with the international food and fuel price shocks led to a marked deterioration of the external position with an unsustainable current account deficit, a significant decline in reserves, and a marked depreciation of the rupee. At the same time, inflation has increased considerably, putting pressure particularly on the more vulnerable.
Subject: External debt, Fiscal policy, Fiscal stance, Imports, International organization, International trade, Monetary policy, Public debt, Revenue administration
Keywords: authorities' comprehensive, excl. IMF obligation, Fiscal stance, Global, IMF arrangement, Imports, inflation expectation, reform plan, staff appraisal
Pages:
112
Volume:
2022
DOI:
Issue:
288
Series:
Country Report No. 2022/288
Stock No:
1PAKEA2022002
ISBN:
9798400218927
ISSN:
1934-7685
