Pakistan hopes for $1.1bn tranche approval by IMF board on April 29

The Executive Board of the International Monetary Fund (IMF) is scheduled to meet on April 29, and there are expectations that the board will conclude its last review of Pakistan's $3 billion Stand-By Arrangement (SBA).

This approval by the IMF board will lead to the disbursement of the final tranche of $1.1 billion for Pakistan under the SBA. 

As per reports, the IMF’s event calendar marks the review meeting for 10:00 am on April 29.  However, earlier updates on the IMF website listed Nigeria's program review on the same date, with subsequent reviews for Kiribati and Montenegro on May 1. Pakistan is not mentioned in these listings.

Previously, both IMF and Pakistani officials have stated that the board would convene on April 29 to likely approve the release of the final $1.1 billion tranche under the SBA agreed in June 2023.

The omission of this meeting from the IMF’s public calendar has led to speculation in Pakistan about a possible exclusion from the board's agenda, and concerns have been raised about the need to renegotiate the release of the final tranche.

In March, IMF staff and Pakistani authorities agreed on a Staff-Level Agreement (SLA) for the second and final review, which was then submitted to the board for approval. If approved, Pakistan would receive access to SDR 828 million (about $1.1 billion).