ISLAMABAD: The Executive Board of the International Monetary Fund (IMF) is scheduled to meet on May 9 to review Pakistan’s staff-level agreement for a new $1.3 billion loan under the climate resilience programme, alongside the first review of the country’s ongoing $7 billion bailout package.
According to the IMF’s official website, the session will focus on the “first review under the Extended Arrangement under the Extended Fund Facility (EFF),” along with a request to modify performance criteria and to initiate support through the Resilience and Sustainability Facility (RSF).
If approved, the meeting would pave the way for the release of a $1 billion tranche from the IMF programme secured by Pakistan in 2024. The IMF’s financial support has been vital in stabilising the country’s struggling economy, helping to secure foreign funding and restore investor confidence.
Pakistan reached a three-year, $7 billion agreement with the IMF in July 2024. The programme aims to strengthen macroeconomic stability and lay the foundation for more sustainable, inclusive growth.
The 37-month EFF arrangement includes six performance reviews. The upcoming $1 billion disbursement will depend on the successful completion of this first review.
In March, Pakistan and the IMF concluded the first biannual review on a positive note, without the need for new revenue-generating measures. IMF Mission Chief Nathan Porter praised the country’s progress, highlighting strong programme implementation and advances in key areas such as fiscal consolidation, tight monetary policy to curb inflation, and reforms aimed at reducing energy costs.
