According to the finance ministry, which made an announcement over the weekend, a three-member delegation from the International Monetary Fund (IMF) is set to visit Pakistan to conduct a Governance and Corruption Diagnostic Assessment under the country’s 2024 Extended Fund Facility (EFF) program. The respective dates of the visit have not been disclosed.
The assessment will make recommendations to strengthen governance and integrity and reduce the risks of corruption, the ministry said, adding that it will play a significant role in the structural reforms of Pakistan.
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“The mission will assess vulnerabilities against six key state functions: fiscal governance, central bank governance and operations, financial sector oversight, market regulation, rule of law, and anti-money laundering and countering the financing of terrorism (AML-CFT),” according to the statement.
It will be positive support to what is already in the pipeline with respect to greater transparency and increasing institutional capacity.” The country’s government welcomed technical assistance from the IMF. The South Asian nation is receiving a $7 billion bailout IMF deal, finalized in September, as part of an economic recovery process. IMF will review progress made by the country by the end of March, with government and the central bank being bullish about achieving necessary targets.
