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Pakistan: Seventh, and Eighth Reviews of the Extended Arrangement under the Extended Fund Facility, Requests for Waivers of Nonobservance of Performance Criteria, and for Extension, Augmentation, and Rephasing of Access-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Pakistan

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  • International Monetary Fund

Abstract

Economic activity remained robust in FY22, fueled by loose fiscal policy and a delayed monetary response to inflationary pressures. These combined with the international food and fuel price shocks led to a marked deterioration of the external position with an unsustainable current account deficit, a significant decline in reserves, and a marked depreciation of the rupee. At the same time, inflation has increased considerably, putting pressure particularly on the more vulnerable.

Suggested Citation

  • International Monetary Fund, 2022. "Pakistan: Seventh, and Eighth Reviews of the Extended Arrangement under the Extended Fund Facility, Requests for Waivers of Nonobservance of Performance Criteria, and for Extension, Augmentation, and ," IMF Staff Country Reports 2022/288, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2022/288
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