- The Mission of the IMF visiting Pakistan for GCDA, clarifies the Ministry of Finance.
- The IMF has long provided advice, technical assistance, he adds.
- Said the report to recommend actions against corruption vulnerabilities.
In order to clean the air surrounding the visit of the mission of the International Monetary Fund (IMF) in Pakistan, the Ministry of Finance and Revenues said on Sunday that the trip aimed to carry out a diagnostic evaluation of governance and corruption (GCDA ).
In a statement, a spokesman for the Ministry of Finance said that the IMF has long provided advice and technical assistance that helped promote good governance, such as promoting transparency and public sector responsibility.
Traditionally, the main objective of the IMF has been to encourage countries to correct macroeconomic imbalances, reduce inflation and undertake key exchanges, exchanges and other market reforms necessary to improve efficiency and support The sustained economic growth, clarified the spokesperson.
The ministry added that the IMF has identified that the promotion of good governance in all its aspects, in particular by guaranteeing the rule of law, by improving the efficiency and responsibility of the public sector, and the fight against corruption are essential elements of a framework in which savings can prosper.
“In 1997, the IMF adopted a policy on how to deal with economic governance, embodied in the orientation note” the role of the IMF in governance issues “. To further strengthen the implementation of this policy, the IMF adopted in 2018 a new framework for an improved commitment to governance (governance policy) which aims to promote a more systematic, effective, frank and uniform commitment with member countries Regarding governance vulnerabilities – including corruption – which are essential for macroeconomic performance, “read the declaration.
Under this policy and the executive, the IMF proposes to undertake the GCDA with member countries to analyze and recommend actions to fight against the vulnerabilities of corruption and the strengthening of integrity and governance in member countries IMF, said the spokesperson.
“After the analysis, the GCDAS prioritize and the sequence recommendations to systematically approach vulnerabilities.”
By giving details, the spokesman said that, since 2018, twenty reports from the GCDA have been finalized and include Sri-Lanka, Mauritania, Cameroon, Zambia and Benin, adding that 10 diagnoses were underway, And many were being studied by the IMF.
Similarly, as part of the EF 2024 program, there is a structural reference that with the support for the development of the capacity of the IMF, said the spokesperson, adding that the government will undertake a GCD evaluation to analyze the governance vulnerabilities and critical corruption and identify priority structural reforms in the future.
“In accordance with this commitment, the mission of the evolution of the IMF to three members goes to Pakistan to undertake the evaluation of the GCD,” the statement said.
The official said that the mission’s objective would be to examine the severity of corruption vulnerabilities in six basic state functions.
“These include budgetary governance, governance and operations of the central bank, financial sector surveillance, market regulations, law and AML-CFT.”
The mission will mainly engage in organizations such as the finance division, the Federal Board of Return, the State Bank of Pakistan, the Pakistan Auditor, the Securities and Exchange Commission of Pakistan, the Pakistan Electoral Commission and the Ministry of the Law and justice, he added
The GCDA Report Will Recommend Actions for Addressing Corruption Vulnerabilités and Strengthening Integrity and Governance, Which Will Assist the Government in Bringing About Reforms for Promoting Transparency, Strengthening Institutional Capacities and Achieving Inclusive and Sustainable Economic Growth, the Ministry Said ATES THE Technical support for the IMF in this regard.