The International Monetary Fund (IMF) is expected to hold its board meeting by December 2025 to approve the release of a $1.2 billion tranche to Pakistan, after the country met all performance benchmarks under the ongoing programme, according to the State Bank of Pakistan (SBP).
SBP Governor Jameel Ahmad informed analysts during a post–Monetary Policy Committee (MPC) briefing that Pakistan has fulfilled all conditions for the review, clearing the way for the disbursement.
“The IMF board meeting is expected by December 2025, where Pakistan will receive a $1.2 billion payment,” he said, according to Topline Securities.
Ahmad said that of the $10 billion in repayments due during FY26, $3.1 billion has already been paid. The central bank also expects the current account deficit to remain between 0–1 percent of GDP.
Meanwhile, remittances are projected to rise to $41 billion in FY26 from $38 billion last year, supported by improved inflows from key corridors.
SBP reported that it has purchased over $20 billion from the market during the past three years, continuing to build reserves after meeting repayment obligations. “The year-end foreign exchange reserves target has been revised upward to $17.8 billion from $17.5 billion,” Insight Research quoted the governor as saying.
The governor reiterated that all external debt repayments will be made on time and that discrepancies between SBP and Pakistan Bureau of Statistics (PBS) import data arise from the use of different primary data sources, which will gradually align.
He added that current import levels remain sustainable, though any sharp rise in global oil prices could create pressure.
In its latest meeting, the MPC maintained the policy rate at 11%, citing ongoing global uncertainty, trade tensions, and domestic supply chain risks. The committee said the decision aims to preserve price stability amid improving macroeconomic indicators.
