IMF yet to include Pakistan in upcoming executive board meetings

Country’s $7 billion Extended Fund Facility agreement awaits approval

The International Monetary Fund (IMF) has not scheduled Pakistan’s 37-month Extended Fund Facility (EFF) on its executive board meetings agenda for July.

According to the IMF’s website, meetings are set for July 24, 26, 29, and 31, but the $7 billion EFF arrangement for Pakistan is not included in the discussions.

On July 12, Pakistani authorities and the IMF team reached a staff-level agreement on the 37-month EFF, equivalent to about SDR 5,320 million (USD 7 billion). 

This agreement requires approval by the IMF’s Executive Board and confirmation of necessary financing assurances from Pakistan’s development and bilateral partners.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

SBP foreign exchange reserves rise by $70 million, reaching $10.68 billion

ISLAMABAD: Foreign exchange reserves held by the State Bank of Pakistan (SBP) saw an increase of $70 million in the week ending March 28,...