IMF satisfied with SBP briefing on Pakistan’s economy

The International Monetary Fund (IMF) has expressed satisfaction with the briefing provided by officials of the State Bank of Pakistan (SBP) as part of the fourth review of Pakistan’s $7 billion Extended Fund Facility (EFF) programme.

The IMF review mission has been holding discussions with Pakistani authorities in Karachi before moving to Islamabad for the next phase of talks. The fourth review is focused on Pakistan’s economic performance through June 2026. The review is also being conducted alongside discussions under the Resilience and Sustainability Facility and an Article IV consultation.

According to Finance Ministry sources, the IMF delegation spent the past three days in Karachi, where it held meetings with SBP officials and the Sindh government. The delegation was briefed on the province’s fiscal position and its contribution to the federal government’s budgetary requirements.

Sindh officials told the IMF team that the province’s tax revenue had reached around Rs593 billion by June 30. Its non-tax revenue also increased significantly and crossed Rs80 billion during the same period.

The SBP separately briefed the IMF mission on Pakistan’s overall economic performance. Discussions covered foreign exchange reserves, monetary policy, imports, the exchange rate and developments in the external sector.

According to officials, Pakistan has achieved its target of maintaining foreign exchange reserves above $17 billion. The IMF team was also informed about developments in the current account and an increase in foreign direct investment.

The central bank’s briefing also covered monetary and exchange-rate developments and the country’s external financing position. These issues are important to the ongoing review because the IMF is assessing Pakistan’s progress against programme targets and commitments.

The IMF’s latest review is expected to move into the policy-level phase with the federal economic team in Islamabad. The discussions will cover key fiscal, monetary and structural issues linked to Pakistan’s economic reform programme.