IMF team to visit Pakistan on February 25

February 20, 2026 (MLN): Pakistan is set to host an International Monetary Fund (IMF) delegation starting February 25 as the country continues to stabilize its economy under IMF-supported programs.

Speaking at a press briefing in Washington, IMF Director of Communications Julie Kozack said, “An IMF delegation will visit Pakistan starting February 25 to conduct important review discussions under the Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF).”

The mission will assess the Third Review under the EFF and Second Review under the RSF, focusing on Pakistan’s fiscal performance, structural reforms, and social spending.

Pakistan has recorded its first current account surplus in 14 years, while the primary fiscal surplus reached 1.3% of GDP in FY2025, reflecting stronger fiscal management and program compliance.

Inflation has remained relatively contained, helping maintain economic stability, while policy efforts have focused on rebuilding investor confidence, strengthening public finances, and supporting key sectors including energy, agriculture, and manufacturing.

The IMF noted that continued implementation of structural reforms and fiscal consolidation will be essential to sustain growth and ensure durable access to international markets.

The upcoming mission came at a crucial time as Pakistan navigates fiscal and external challenges, with authorities also expected to discuss revenue mobilization, governance reforms, and social protection measures during the IMF meetings.

Regional and Global Context

While Pakistan prepares for the IMF review, South Asia remains in focus.

India’s economy continues to outperform expectations, with real GDP growth projected at 7.3% for FY2025-26, reflecting strong domestic demand and ongoing infrastructure investments.

The IMF highlighted India’s gradual fiscal consolidation and capital expenditure initiatives, which are expected to rebuild fiscal buffers while sustaining growth.

IMF Managing Director also visited Sri Lanka to assess cyclone-affected areas and will travel to India for the India AI Summit and bilateral engagements with policymakers and entrepreneurs.

Ukraine, Africa, and the Americas

The IMF expects to present a new four-year $8.1 billion Extended Fund Facility for Ukraine to its Executive Board in the coming days, following prior action completions by Ukrainian authorities.

Economic growth is expected below 2% in 2025 due to war-related disruptions, with continued fiscal and current account deficits and significant refugee displacement.

Sub-Saharan Africa’s growth outlook was revised upward to 4.6% for 2026, driven by macroeconomic stabilization and reforms in key economies.

However, the Fund highlighted vulnerabilities for conflict-affected countries and oil exporters facing weaker commodity prices.

In the Americas, IMF staff are concluding the U.S. Article IV mission, with a report to be released February 25 assessing debt, trade deficits, and the broader economic outlook.

Argentina is undergoing its Second Review under the EFF, with authorities working on reserve accumulation, monetary stability, and labor market reforms.

Middle East and North Africa

Lebanon continues discussions with the IMF on a comprehensive reform program, focusing on fiscal consolidation and banking sector restructuring.

Egypt will hold its Fifth and Sixth Reviews under the EFF and RSF, unlocking a combined disbursement of $2.3 billion to support state enterprise reforms and social safety nets.

Venezuela remains outside IMF financial engagement due to recognition issues, though low-level technical exchanges continue.

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