Pakistan says IMF mission will visit to assess governance, corruption risks


(Reuters) - A three-member International Monetary Fund (IMF) mission will visit Pakistan to conduct a Governance and Corruption Diagnostic Assessment under the country's 2024 Extended Fund Facility program, the finance ministry said on Sunday, without specifying dates.

The ministry added that the report will recommend actions for addressing corruption vulnerabilities and strengthening integrity and governance, noting that the findings would help shape structural reforms.

"The focus of the mission will be to examine the severity of corruption vulnerabilities across six core state functions. These include fiscal governance, central bank governance and operations, financial sector oversight, market regulation, rule of law, and AML-CFT," the ministry said in the statement.

Pakistan’s government welcomed the IMF’s technical support, saying the assessment would aid efforts to promote transparency and institutional capacity.

The South Asian country, currently bolstered by a $7 billion facility from the International Monetary Fund (IMF) granted in September, is navigating an economic recovery.

The IMF is set to review Pakistan's progress by March, with the government and central bank expressing confidence about meeting its targets.

(Reporting by Surbhi Misra in Bengaluru and Asif Shahzad, Editing by Louise Heavens)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In World

South Korea says 'credible intelligence' indicates North Korean leader's daughter is successor
Germany works to clarify new rules on fighting-age men leaving country
41 miners trapped after Ukrainian strike in Russian-controlled Luhansk region, official says
South Korea's Lee expresses regret to North Korea over drone incursion
15 ships crossed Strait of Hormuz over past 24 hours after getting permission from Iran, says report
Trump invokes religious rhetoric in praise of Iran rescue, drawing criticism
How a perilous US rescue mission in Iran nearly went off course
Libya's oil output hits highest level in over a decade
1st LD Writethru: Israeli strike on Lebanon's mountainous area kills 4
Russian Baltic port resumes crude loading after attacks, Bloomberg News reports

Others Also Read