Pakistan’s Next Tranche and Climate Financing Officially on IMF Board’s Meeting Agenda

The International Monetary Fund (IMF) has formally notified that the Executive Board would consider “Pakistan – First Review under the Extended Arrangement Under the Extended Fund Facility, Request for Modification of Performance Criteria, and Request for an Arrangement under the Resilience and Sustainability Facility”. According to the Fund’s website, the IMF updated the schedule of the executive board meeting set to be held on May 9 to take the release of Pakistan’s next tranche under its $7 billion Extended Fund Facility Arrangement (EFF) on agenda. This includes the Arrangement under the Resilience and Sustainability Facility to the tune of around $1.2 billion if Pakistan wishes to unlock it sometime in the future. The Pakistani authorities and the IMF team reached a staff-level agreement on a 37-month EFF in the amount equivalent to SDR 5,320 million (or about $7 billion) on July 12, 2024. The first tranche of $1.1 billion was released upfront, with the remaining instalments scheduled every six months, contingent on meeting performance targets. The next one is expected next month.