Pakistan: Second Review and Request for the Augmentation of Access Under the Stand-By Arrangement: Staff Report; Staff Supplement; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Pakistan
IMF Staff Country Reports, August 21, 2009
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- Canonical URL
- Pakistan: Second Review and Request for the Augmentation of Access Under the Stand-By Arrangement: Staff Report; Staff Supplement; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Pakistan
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Bibliographic details
- Authors: Arrangement. Program
- Published: August 21, 2009
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451830750.002
Executive summary and program performance
- Program performance has been mixed.
- All end-March quantitative performance criteria were met.
- Structural reform has been slower than programmed.
- The authorities indicated that the fiscal deficit ceiling may have been exceeded by 0.9 percent of GDP and, therefore, request a waiver of nonobservance for the related end-June 2009 performance criterion.
- The authorities also request waivers of applicability for other end-June quantitative performance criteria.
Key findings and policy implications
- Fiscal: Possible breach of the fiscal deficit ceiling by 0.9 percent of GDP for end-June 2009; waiver of nonobservance requested.
- Quantitative performance criteria: End-March criteria met; waivers of applicability requested for multiple end-June criteria.
- Structural reforms: Implementation slower than programmed, implying delays in achieving program objectives and potential need for intensified reform efforts.
Subjects and keywords
- Subjects: Budget planning and preparation, Debt service, External debt, Public debt, Public financial management (PFM), Tariffs, Taxes
- Keywords: Budget planning and preparation, CR, Debt service, financial support, Global, government request, Gra, growth potential, ISCR, Pakistan, Pakistan's economy, SBP overdraft, staff appraisal, Tariffs