Business Review


Pakistan’s relationship with the International Monetary Fund during the 2000 – 2004 period was quite unique and distinctive. Unlike the earlier eight agreements that were concluded with the IMF during 1988-99 and were never implemented beyond the first tranche release it was only in this period that two successive agreements – a nine month Stand-by Arrangement (SBA) in the year 2000 followed by a three year Poverty Reduction and Growth Facility (PRGF) were successfully completed. All the sixteen reviews by IMF staff were completed and eleven successive tranches were drawn on time without any extension or interruption 1 . The last two tranches were not drawn down although the conditionalities were met because the country had acquired financial strength and did not require the IMF money.


Stand-by Arrangement (SBA), Poverty Reduction and Growth Facility (PRGF), International Monetary Fund(IMF), Pakistan



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Creative Commons Attribution 4.0 International License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Published Online

March 05, 2021



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