Pakistan

This paper focuses on Pakistan’s 2004 Article IV Consultation, Ninth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), and Request for Waiver of Performance Criteria (PCs). Implementation of the PRGF program in Pakistan remains broadly on track. All quantitative PCs and indicative targets for end-June 2004 were met. Structural reforms continue to be advancing, although four structural PCs were breached. A temporary intensification of an existing and the imposition of a new exchange restriction, however, were quickly reversed, and new tax exemptions have been offset by other tax measures.Announcements;Article IV consultations;Performance criteria waivers;Poverty Reduction and Growth Facility;Staff Reports;public debt, current account, budget balance, debt service, external debt, balance of payments, government debt, debt burden, public finances, structural adjustment, fiscal reporting, debt relief, public and publicly guaranteed, public sector debt, current account balance, fiscal strategy, tax policy, debt sustainability, tax administration, external borrowing, tax rates, short-term debt, fiscal responsibility, revenue collection, tax revenues, fiscal policy, government budget, current account deficit, tax base, repurchases, fiscal responsibility law, long-term debt, fiscal deficit, medium-term fiscal strategy, interest expenditure, bilateral creditors, debt dynamics, fiscal adjustment, reserve accumulation, fiscal targets, primary deficit, tax revenue, reserve assets, external debt sustainability, public expenditure, fiscal reform, debt ratio, fiscal space, budget deficit, fiscal data, tax collection, repayments, fiscal management, government deficit, debt stock, tax system, fiscal transparency, central bank, domestic debt, fiscal reforms, official creditors, fiscal consolidation, payment arrears, general resources account, debt obligations, taxation, public finance, domestic borrowing, government expenditures, domestic savings, public and publicly guaranteed debt, external debt burden, private credit, fiscal imbalances, private creditors, reforms of tax administration, tax effort, external payments arrears, local debt, budget projections, domestic currency, debt ratios, external payment, current account surplus, debt-equity, prudent fiscal management, external obligations, structural fiscal, ppg debt, net debt, fiscal assumptions, bilateral donors, fiscal side, external indebtedness, private sector debt, currency debt, fiscal reporting system, federal government expenditures, tax reform, total external debt, imf repurchases, debt management policy, foreign debts, domestic investors, stock of debt, external debt indicators, external payments, public debt management, debt restructuring, increase in tax revenues, bilateral agreements, public sector borrowing, administrative improvements, bilateral debt, budget process, fiscal operations, fiscal burden, fiscal performance, government spending, tax reforms, reduction in transfers, external debts