By the end of 2004 Pakistan had drawn down 12 tranches in succession on time without any hiatus and decided to forego the remaining two tranches voluntarily after the review was completed by the IMF Board.
Pakistan has thus been able to regain its financial sovereignty and is no longer dependent on the whims and caprices of the international financial institutions or large bilateral creditor countries who control these institutions. Sustainability of reforms and policies: How can one be sure that these reforms and policies will be sustained in the coming years?