The International Monetary Fund (IMF) will send a three-member team to Pakistan to conduct a Governance and Corruption Diagnostic Assessment. This evaluation, part of Pakistan’s 2024 Extended Fund Facility (EFF) program, aims to identify corruption risks and strengthen governance. The findings will help shape structural reforms, supporting economic stability and transparency.
Focus Areas of the IMF Mission
The IMF team will assess corruption vulnerabilities across six key state functions:
- Fiscal Governance – Examining public financial management and accountability.
- Central Bank Governance – Reviewing policies, transparency, and operations.
- Financial Sector Oversight – Assessing regulatory frameworks and enforcement.
- Market Regulation – Ensuring fair competition and corporate governance.
- Rule of Law – Evaluating judicial integrity and legal enforcement.
- AML-CFT (Anti-Money Laundering & Countering Financing of Terrorism) – Strengthening mechanisms to combat financial crimes.
Government Welcomes IMF’s Support
Pakistan’s finance ministry stated that the assessment would help address institutional weaknesses and promote transparency. The government sees this as an opportunity to implement long-term reforms that improve governance and restore investor confidence.
The IMF’s report will outline key recommendations to strengthen institutional integrity and reduce corruption vulnerabilities. These reforms are expected to enhance economic governance and attract foreign investment.
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Pakistan’s Economic Recovery and IMF Support
Pakistan is currently under a $7 billion IMF facility, approved in September 2024, aimed at stabilizing the economy. The government remains optimistic about meeting the IMF’s economic targets ahead of the fund’s progress review in March.
Both the government and the central bank have expressed confidence in Pakistan’s financial recovery. Officials believe ongoing reforms, coupled with IMF recommendations, will strengthen economic stability and ensure sustainable growth.
The IMF’s governance assessment marks a crucial step in Pakistan’s efforts to improve transparency and accountability. With economic stability at stake, the government is committed to addressing corruption and reinforcing good governance.
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