Pakistan Met All Financial Targets Under IMF’s Stand-By Agreement

The Pakistani authorities’ overall performance against end-December quantitative performance criteria (QPCs), Indicative Targets (ITs), and Structural Benchmarks (SBs) under the Stand-By Arrangement (SBA) was satisfactory, says the International Monetary Fund (IMF). The Fund in its report titled ” Second and final review under the SBA”, stated that the authorities met all seven quantitative Performance Criteria (PCs) for end-December 2023. This includes: They also met both continuous PCs on zero new flow of SBP credit to the government, and zero external public payment arrears. The authorities also met all four ITs for end-December 2023: The Structural Benchmarks were met as well: Work toward amending four dedicated SOE laws (missed SB, end-November 2023) was not met but remains in progress to align legislation with requirements; the timing of its passage is contingent on the recently seated National Assembly.