An International Monetary Fund (IMF) team, led by Iva Petrova, concluded a two-week visit to Karachi and Islamabad from September 24 to October 8, 2025, aimed at reviewing Pakistan’s economic programs under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF).
At the end of the mission, Petrova said the IMF and Pakistani authorities made “significant progress” toward reaching a Staff Level Agreement (SLA) on the second review under the 37-month EFF and the first review of the 28-month RSF arrangement.
“Program implementation remains strong and broadly aligned with the authorities’ commitments,” she noted, highlighting progress in several key areas: sustaining fiscal consolidation while supporting flood recovery, keeping inflation within the State Bank of Pakistan’s target range through tight and data-driven monetary policy, restoring the energy sector’s viability via tariff adjustments and cost-reducing reforms, and advancing structural reforms to reduce the state’s footprint, enhance governance and transparency, promote a competitive business environment, and liberalize commodity markets.
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The discussions also focused on strengthening climate resilience and completing RSF reform measures. Petrova added that IMF officials will continue policy discussions to resolve any remaining issues.
The mission concluded with a message of sympathy for those affected by recent floods and gratitude to Pakistani authorities, the private sector, and development partners for their cooperation and hospitality.
