IMF board assessment key economic performance indicators.

ISLAMABAD -- On the completion of first review of Pakistan's economic performance, IMF has acknowledged that Pakistan's reform program is on track and already producing results. Decisive policy implementation has started to address the deep-seated problems of Pakistan's economy and to reverse its large imbalances, preserving financial stability. The report acknowledges that the business climate has improved, and market confidence is returning. IMF further adds in its assessment that the Government recognizes that structural reforms, especially in SoE sector are key to revive economic activity and growth. IMF has released SDR 328 million (about $ 452.4 million), bringing total disbursements to SDR 1,044 million (approx $1.45 billion). The report has confirmed that End-September performance criteria (PCs) were observed with wide margins.

These include o Zero budgetary borrowing from SBP o Primary budget deficit ceiling o Ceiling on government guarantees o Zero...