Pakistan: Third Review Under the Stand-By Arrangement and Request for Waiver of Performance Criterion

October 5, 2001

Preview Citation

Format: Chicago

Pakistan: Third Review Under the Stand-By Arrangement and Request for Waiver of Performance Criterion, (USA: International Monetary Fund, 2001) accessed November 21, 2024

Summary

Pakistan showed commendable performance under the Stand-By Arrangement. Executive Directors noted the substantial progress in the structural reforms, but expressed concerns about the slippage in revenue performance, and heavy foreign exchange intervention in the kerb market to meet the reserves' program targets. They stressed the need to build foreign exchange reserves, improve monetary and exchange rates, liberalize the foreign exchange interbank market, improve governance, and strengthen the financial system. They agreed that Pakistan has successfully completed the third review under the Stand-By Arrangement, and approved a waiver.

Subject: Banking, Correspondent banking, Expenditure, External debt, Financial services, Income and capital gains taxes, Public debt, Taxes

Keywords: Asia and Pacific, Correspondent banking, CR, Europe, FDI inflow, Foreign exchange interbank market, Global, Income and capital gains taxes, ISCR, Kerb market, Middle East, Net reserve, Pakistan's achievement, Reform priority, Reserves of the State Bank of Pakistan, SDR

Publication Details

Pages:

58
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2001/178
Stock No:

1PAKEA0052001
ISBN:

9781451830590
ISSN:

1934-7685

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