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The government of Pakistan is actively working on a strategy to exit the International Monetary Fund (IMF) after the current $7 billion bailout package expires in 2027. Minister for Planning and Development, Ahsan Iqbal, has emphasized that if Pakistan is to avoid further reliance on the IMF, the country must significantly boost its exports, targeting $63 billion by 2029. Failure to do so could lead to a financial gap that may require Pakistan to enter another IMF program.
A recent assessment by the Planning Commission suggested that while Pakistan can sustain itself without the IMF, it must urgently implement structural reforms in sectors like fiscal management, governance, and exports. The country’s current account deficit may temporarily rise as Pakistan transitions from stabilization to growth, requiring additional financing in the coming years.
The Planning Commission has proposed a three-phase plan to achieve sustainable economic growth. The first phase focuses on fiscal and governance reforms, while the second emphasizes industrialization, export expansion, and technological adoption. The third phase will focus on high-quality growth and transforming the economy into a more technology-driven one.
Prime Minister Shehbaz Sharif has instructed the Planning Commission to develop a strategy that will reduce the country’s dependency on the IMF and focus on achieving long-term economic stability through reforms and investments in key sectors like industry and agriculture.
