Starting February 25, an IMF staff team will descend on Islamabad to evaluate Pakistan’s adherence to its ambitious economic reform agenda under the Extended Fund Facility (EFF). The mission promises in-depth discussions on sustainability and growth.
Julie Kozack, IMF Communications Director, shared the itinerary at a briefing. Expect talks on the EFF’s third review and RSF’s second, zeroing in on policy compliance and reform execution. These checkpoints are pivotal for continued funding.
Kozack commended Pakistan’s efforts: ‘These initiatives have aided stabilization and rebuilt confidence.’ Standout fiscal discipline yielded a 1.3% primary surplus relative to GDP in FY2025, meeting benchmarks. Core inflation stayed in check, and a historic current account surplus marked FY2025—the first since 2011.
Anti-corruption and governance enhancements featured prominently. The latest report calls for tax simplification, transparent bidding in public buys, and mandatory asset disclosures. The IMF delegation’s scorecard will cover fiscal tightening, taming inflation, bolstering external buffers, and pushing structural shifts.
Pakistan’s economic history is riddled with crises—recurrent payment squeezes and inflation spikes—that have necessitated IMF interventions. The EFF offers extended financing conditioned on reforms, with reviews dictating tranche disbursements. As global pressures mount, this visit underscores the urgency of unwavering commitment to change.