Federal Government Urges Provinces to Accelerate IMF Reforms Ahead of Key Review Deadline
The federal government has pressed Pakistan’s provincial administrations to urgently resolve pending IMF-related commitments and fiscal targets to ensure smooth progress in the second review of the $7 billion Extended Fund Facility (EFF), as well as the $1.4 billion Resilience and Sustainability Facility (RSF), with key reforms hanging in the balance.
Pakistan and IMF begin talks on $7bn Extended Fund Facility and RSF reviews
Pakistan and the IMF have opened talks on the $7 billion Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF) reviews, focusing on fiscal performance, governance reforms, and anti-money laundering measures.
Pakistan Updates Public Finance Management Act 2019 to Strengthen Fiscal Transparency
The federal government has updated the Public Finance Management Act, 2019 with amendments up to June 2024, expanding fiscal responsibility, enhancing oversight of public funds, and strengthening transparency to align Pakistan’s financial framework with global best practices.
World Bank to Approve $600 Million Loan for Pakistan’s Inclusive Development and Fiscal Reform Program
The World Bank is set to approve a $600 million loan to support Pakistan’s inclusive development program, aimed at improving public spending efficiency, expanding the tax base, and strengthening fiscal governance through transparency and data-driven reforms.
ADB Flags Political Instability, Security Risks and External Shocks as Top Threats to Pakistan’s Economic Recovery
The Asian Development Bank has highlighted political uncertainty, security threats, and external shocks as serious obstacles to Pakistan’s economic recovery, urging structural reforms and stronger private sector engagement to secure sustainable growth.