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

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.
Publication date: December 2019
ISBN: 9781513523880
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ISCR , CR , SBP , pakistani authority , Proj , percent of GDP , pakistani rupee

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