IMF staff call for greater Pakistan central bank autonomy
Further effort regarding legal amendments still needed, IMF report says
"Significant" progress has been made in strengthening the autonomy of the State Bank of Pakistan (SBP), but further efforts are needed, say staff at the International Monetary Fund.
A staff report published on July 5 praises the Pakistan authorities for implementing all but one of the safeguard recommendations it had urged the country to adopt in 2013. Legal amendments to the banking act were only "partially addressed", however.
"Progress in strengthening the SBP's autonomy is welcome, and
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