IMF Staff Country Reports

Pakistan: Third Review Under the Stand-By Arrangement

Publication Date:

January 7, 2010

Electronic Access:

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Summary:

This 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, and 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.

Series:

Country Report No. 2010/006

Subject:

Banking Credit Expenditure External debt Foreign exchange Money Public debt