IMF Staff Country Reports

Pakistan: First Review Under the Stand-by Arrangement, Requests for Waivers of Applicability of Performance Criteria, Modification of Performance Criteria, and for Rephasing of Access-Press Release; Staff Report; and Statement by the Executive Director for Pakistan

Publication Date:

January 19, 2024

Electronic Access:

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Summary:

Recent developments. Following the 2022 floods and the acute financial pressures earlier in the year, economic activity has stabilized and inflation has begun to gradually decline on the back of strong policy adjustment. External pressures have eased somewhat since June, and the SBP has taken advantage of renewed inflows to begin rebuilding foreign exchange (FX) reserves. Fiscal performance has also improved, with the general government achieving a primary surplus in FY24Q1. Despite this welcome progress, the outlook is still challenging, and downside risks remain exceptionally high.

Series:

Country Report No. 2024/017

Subject:

Economic sectors External debt Fiscal policy Fiscal stance International organization Monetary policy Public debt Public sector Tariffs Taxes

Frequency:

regular