The International Monetary Fund (IMF) remains engaged in discussions with Pakistan on policy goals and actions to establish a medium-term, home-grown reform programme that could be supported under the Extended Fund Facility (EFF) arrangement.
Julie Kozack, Director of the Communications Department at the IMF, highlighted this in a recent press briefing. She emphasised that the reform programme under consideration aims to enhance economic credibility through the consistent application of sound policies.
The objective is to transition Pakistan from economic stabilisation to robust, inclusive, and resilient growth, ultimately improving the living standards of the Pakistani people.
The IMF also noted significant progress towards a staff-level agreement with Pakistan.
Addressing a query about the recent mission to Pakistan, Kozack stated, “Since our mission to Pakistan from May 13 to May 23, our staff has visited Islamabad. We will continue to discuss policy goals and actions that could form the basis of a medium-term, home-grown reform programme for Pakistan that could be supported under the EFF arrangement with the IMF.”
Regarding the prior actions and the 2024-25 budget, she mentioned that discussions between the IMF team and Pakistani authorities are ongoing and that further information would be communicated in due course.
Kozack further elaborated on the 2023 Stand-by Arrangement (SBA) for Pakistan, explaining that its goal is to return to stability and to maintain, broaden, and extend this stability to establish a foundation for sustainable growth.
