Pakistan not yet on agenda of IMF meetings

ISLAMABAD: The International Monetary Fund (IMF) has not yet included Pakistan on the agenda of its executive board meetings scheduled till July 31.

According to the Fund’s website, the IMF issued the schedule of the executive board meeting set to be held on July 24, 26, 29 and 31, but to take the 37-month Extended Fund Facility Arrangement (EFF) of about $7 billion on agenda is not included.

The Pakistani authorities and the IMF team reached a staff-level agreement on a 37-month Extended Fund Arrangement (EFF) in the amount equivalent to SDR 5,320 million (or about USD 7 billion) on July 12.

This agreement is subject to approval by the IMF’s Executive Board and the timely confirmation of necessary financing assurances from Pakistan’s development and bilateral partners.

Copyright Business Recorder, 2024