Actions for completion of IMF program is subject to discussions in forthcoming reviews: Finance Division

February 8, 2022 (MLN): Finance Division on Tuesday said that further actions for the successful completion of the IMF program in Sep’22 will be subject to discussions in the forthcoming reviews.

Following the issuance of the IMF Staff report after the approval of the 6^th Review under the Extended Fund Facility (EFF), different interpretations have been reported in various sections of the newspaper on the way forward with policy actions and reforms, the division said.

In its clarification statement, the finance division said, “all further actions will be subject to discussions in the forthcoming reviews. After mutual consensus on actions with IMF, these will be proposed in upcoming budget FY23.”

Last week, IMF released its country report post completion of sixth review and approval of Executive Board. This report includes an assessment of the current economic situation in Pakistan, as well as the economic and financial policies to be pursued by the Pakistani authorities to address the ongoing problems.

In the report, IMF has introduced new structural benchmarks which support current efforts to strengthen revenue mobilization, public financial management, energy sector feasibility, governance, and AML/CFT framework.

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