An International Monetary Fund (IMF) mission, led by Nathan Porter, concluded a staff visit to Pakistan from November 12 to 15, 2024. During the visit, the IMF delegation engaged with senior officials from the federal and provincial governments, the State Bank, and representatives of the private sector.
These staff visits, part of routine semi-annual program reviews, focus on discussing economic developments, policy frameworks, and progress on planned reforms.
Following the visit, Mr. Porter issued a statement highlighting constructive discussions with Pakistani authorities. He emphasized the importance of maintaining prudent fiscal and monetary policies, enhancing revenue generation from untapped tax bases, and delegating greater social and developmental responsibilities to provincial governments. Structural energy reforms and reducing state intervention in the economy were identified as critical measures to restore the energy sector’s sustainability and boost private sector competitiveness.
Porter expressed optimism about Pakistan’s commitment to economic reforms under the 2024 Extended Fund Facility (EFF) and noted that effective program implementation could lead to stronger, sustainable growth and improved living standards. The next IMF mission for the first EFF review is scheduled for the first quarter of 2025.
