The International Monetary Fund (IMF) Executive Board plans to convene in mid-August to deliberate on Pakistan’s $7 billion bailout package. A staff-level agreement between Pakistan and the IMF was reached on July 12.
Sources within the Ministry of Finance have indicated that the IMF board is expected to grant final approval within four to six weeks subsequent to the staff-level agreement. They emphasized the necessity for Pakistan to secure assurances of external financing before the board meeting.
Discussions concerning funding aimed at addressing climate change and natural disaster risks are anticipated in the near future. The IMF has shown readiness to consider Pakistan’s request for climate financing. Sources have also disclosed that Pakistan must identify priority projects related to climate change for long-term implementation.
The IMF’s Resilience and Sustainability Facility (RSF) program provides access to affordable, long-term financing. The Ministry of Finance underscores the importance of collaboration with global institutions to achieve these objectives.
