ISLAMABAD: The International Monetary Fund’s (IMF) Resident Representative in Pakistan Mahir Binici has acknowledged the country’s progress under the Extended Fund Facility (EFF), describing its performance as “strong so far.”
Binici highlighted the successful completion of the first review by the IMF Executive Board in May 2025 as a major milestone in Pakistan’s economic reform journey.
Pakistan had secured a three-year aid package deal in July 2024. The programme, approved by the IMF two months later, is set to allow the country to cement macroeconomic stability and create conditions for stronger, more inclusive and resilient growth.
In a guest lecture at the Sustainable Development Policy Institute (SDPI), Binici discussed the evolving economic landscape across the Middle East and North Africa (MENA) region and Pakistan. He reaffirmed the Fund’s continued support for Pakistan’s economic and climate reform agenda, according to a press release issued by the SDPI on Sunday.
Addressing economists, researchers, and policy experts at SDPI, Binici noted that growth across the MENA region and Pakistan is expected to strengthen in 2025 and beyond.
However, he cautioned that elevated trade tensions, geopolitical fragmentation and weakening global cooperation continued to generate exceptional uncertainty and weigh on the global economic outlook, underlining the urgent need for prudent and forward-looking policy actions, the press release added.
Focusing on Pakistan, Binici noted that the country’s performance under the IMF’s Extended Fund Facility (EFF) has been “strong so far,” adding that the successful completion of the first review by the IMF Executive Board in May 2025 was a key milestone.
“Early policy measures have helped restore macroeconomic stability and rebuild investor confidence, despite persistent external challenges,” Binici remarked.
He emphasised that structural reforms remain central to Pakistan’s long-term economic sustainability, particularly reforms that strengthen tax equity, improve the business climate, and encourage private-sector-led investment.
He also highlighted Pakistan’s progress on climate-related reforms under the IMF’s Resilience and Sustainability Facility (RSF).
According to Binici, the RSF is designed to help countries like Pakistan bolster resilience to climate-related vulnerabilities and meet international climate commitments.
He mentioned that the key areas of reform under the RSF included enhancing public investment planning, promoting efficient and sustainable use of water resources, improving institutional coordination for disaster preparedness and financing, expanding the availability and transparency of climate-related data.
Binici stressed that “support through the RSF will not only strengthen Pakistan’s climate resilience but also help unlock green investments and foster a more climate-conscious economic trajectory.”
