The International Monetary Fund (IMF) remains in discussions with Pakistan regarding policy goals and actions that could underpin a medium-term, home-grown reform program, potentially supported under the Extended Fund Facility (EFF) arrangement. This information was shared by Julie Kozack, Director of the Communications Department at the IMF, during a recent press briefing.
Kozack emphasized that the ongoing discussions aim to bolster Pakistan’s economic credibility through the sustained implementation of sound policies. The primary objectives of the reform program include transitioning Pakistan from economic stabilization to strong, inclusive, and resilient growth. Additionally, these reforms aim to enhance the living standards of the Pakistani people, which is a central goal of the program discussions.
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In response to a question, Kozack elaborated on the status of these discussions following the recent mission to Pakistan, which took place from May 13 to May 23, when IMF staff visited Islamabad. “We will continue to discuss policy goals and actions which could form the basis of a medium-term home-grown reform program for Pakistan that could be supported under EFF arrangement with the IMF,” she stated.
Regarding queries about the prior actions and the budget for 2024-25, Kozack noted that discussions between the IMF team and Pakistani authorities are ongoing, and more information will be communicated when available. She also mentioned that the 2023 Stand-by Arrangement (SBA) for Pakistan aimed to return to stability and that the current goal is to maintain, broaden, and extend this stability to establish a foundation for sustainable growth.
