IMF to Conduct Governance and Corruption Assessment in Pakistan

A three-member IMF mission will visit Pakistan to assess governance and corruption under the 2024 Extended Fund Facility program. The report will recommend actions to address vulnerabilities and strengthen governance. Pakistan welcomes the support as it pursues economic recovery backed by a $7 billion IMF facility.

An International Monetary Fund mission, consisting of three members, is preparing to visit Pakistan. The finance ministry announced that this visit aims to conduct a Governance and Corruption Diagnostic Assessment under the 2024 Extended Fund Facility program. However, specific dates for the visit have not been disclosed.

The impending report is expected to provide recommendations to tackle corruption vulnerabilities and enhance governance. The assessment will examine issues within six crucial state functions: fiscal governance, central bank governance and operations, financial sector oversight, market regulation, rule of law, and AML-CFT.

The Pakistani government has expressed its appreciation for the IMF's technical assistance, noting that the diagnostic assessment aligns with its efforts to enhance transparency and institutional capacity. Emboldened by a $7 billion facility from the IMF secured in September, the nation endeavors to achieve economic recovery. The IMF's evaluation of Pakistan's progress is scheduled for March, with governmental and central bank assurances of target attainment.