IMF concludes governance and corruption assessment mission to Pakistan

An International Monetary Fund (IMF) scoping mission has concluded its visit to Pakistan, where it assessed governance and corruption vulnerabilities across six core state functions.

The visit, which took place from February 6 to 14, 2025, aimed to lay the groundwork for a Governance and Corruption Diagnostic Assessment (GCD) at the request of the Government of Pakistan.

The IMF appreciated the commitment shown by the Pakistani government towards this initiative.

"We look forward to continuing our collaboration," a statement said.

The IMF team for the GCD assessment plans to return later this year to gather more information and explore opportunities to strengthen governance, integrity, and economic outcomes.

During their mission, the IMF team engaged with key government bodies including the Finance Division, Federal Board of Revenue, State Bank of Pakistan, Auditor General of Pakistan, Securities & Exchange Commission of Pakistan, Ministry of Law & Justice, and the Supreme Court of Pakistan.

They also met with various stakeholders, including business associations, civil society organizations, and international development partners.

The core state functions assessed included 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).

The IMF team will continue working with Pakistani officials to prepare for the comprehensive GCD assessment, focusing on enhancing governance and economic outcomes.

The IMF board in September last year approved a $7 billion Extended Fund Facility (EFF) providing a critical boost to Pakistan’s struggling economy. First tranche of $1 billion was released, and the staff level team is due next week for its assessment and if approved, another $1.1 billion will be released.