IMF Executive Board to Review Pakistan’s Loan Program Today

The Executive Board of the International Monetary Fund (IMF) is set to meet on Monday (today) to consider Pakistan’s second review under the 37-month Extended Fund Facility (EFF) and the first review of the 28-month Resilience and Sustainability Facility (RSF), according to the Fund’s website. If approved, Pakistan will gain access to about $1.0 billion (SDR 760 million) under the EFF and $200 million (SDR 154 million) under the RSF, bringing total disbursements under both arrangements to approximately $3.3 billion. The IMF’s review follows a staff-level agreement reached in October after a mission led by Iva Petrova held discussions with Pakistani authorities in Karachi, Islamabad, and Washington, DC. The agreement, announced on October 15, is subject to approval by the IMF Executive Board. The finance ministry noted that IMF officials have praised Pakistan as a “very good example of reform and resilience” as the country continues to implement economic reforms under the Fund’s programs. The Board meeting is scheduled for December 8.