IMF tightens Pakistan bailout, adds 11 conditions, total 64 over 18 months

64 conditions in 18 months: IMF bailout for Pakistan comes at steep price

The International Monetary Fund has imposed 11 fresh structural conditions on Pakistan under its ongoing $7-billion Extended Fund Facility (EFF), raising the total compliance requirements to 64 over 18 months, according to the Fund’s staff-level report for the second review released on Thursday.

The new directives focus on tackling corruption, strengthening governance, reforming the Federal Board of Revenue, and addressing elite capture in sectors such as sugar. A key requirement mandates the “mandatory public disclosure of asset declarations of all high-level federal civil servants on an official government website by December 2026.”

The IMF says the move is intended to identify unexplained wealth and detect gaps between declared income and actual assets. The government plans to extend this disclosure obligation to senior provincial officials as well, with commercial banks granted full access to the data.

By October 2026, Pakistan must also publish a time-bound action plan to address corruption risks in 10 high-risk departments, based on completed institutional risk assessments. The National Accountability Bureau (NAB) will coordinate implementation in the most vulnerable agencies.

Additional directives include reviewing remittance costs, advancing tax reforms, and finalising a roadmap for power-sector privatization. These conditions add to an already demanding reform agenda involving steep energy tariff hikes, aggressive tax measures, and strict monetary and fiscal policies.

Pakistan remains heavily dependent on external financing, having secured $3.3 billion from the IMF and World Bank since last year. With the $7-billion programme now in its second year, the 64 combined prior actions, structural benchmarks and indicative targets represent one of the most stringent oversight regimes the country has faced in decades. The release of the next tranche hinges on Pakistan meeting these and other pending commitments.