The International Monetary Fund’s (IMF) Executive Board will not consider Pakistan’s $7 billion bailout package this week, as it is not included in the agenda for the upcoming meeting on September 4.
According to the IMF’s website, the schedule for the Executive Board meetings on August 28, 30, and September 4 has been released, but Pakistan’s 37-month Extended Fund Facility (EFF) arrangement, amounting to $7 billion, is not included on the agenda.
Pakistani authorities and the IMF team reached a staff-level agreement on the 37-month EFF, totalling SDR 5,320 million (around USD 7 billion), on July 12.
Despite this, the finance ministry remains hopeful that the loan will be approved later in September.
The government seeks to secure rollovers of $12 billion in loans from China, Saudi Arabia, and the UAE. Additionally, Pakistan has requested a $1.2 billion loan from Saudi Arabia to help bridge a $2 billion financing gap.
