Pakistan, IMF reach staff-level agreement

International Monetary Fund IMF

Pakistan and the International Monetary Fund have reached a staff level agreement on policies and reforms to complete the sixth review under six billion dollars Extended Fund Facility.

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The agreement is subject to approval by the Executive Board of the IMF.

According to a statement by the IMF, completion of the review would make available about 1059 million dollars to Pakistan bringing total disbursements under the Extended Fund Facility to 3,027 million dollars.

This will help unlock significant funding from bilateral and multilateral partners.

The IMF recognised that despite a difficult environment, Pakistan continues to make progress on implementing the Extended Fund Facility programme.

All quantitative performance criteria for end-June were met with wide margins.

The IMF also acknowledged Pakistan’s efforts in improving anti-money laundering and combating the financing of terrorism framework.

 

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