IMF board takes up $1.2b loan tranche for Pakistan today

The International Monetary Fund (IMF) Executive Board will meet today (Friday) and is likely to approve Pakistan’s economic review and release of a $1.2 billion loan tranche under the Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF) programs, reported 24NewsHD TV channel.

According to the Ministry of Finance, Pakistan is set to receive $1 billion following the successful completion of the third review, while an additional $210 million will be released after the second review under the RSF programme.

Pakistan and the IMF finalized a staff-level agreement (SLA) on March 27. The country has reportedly complied with most of the IMF’s stipulated conditions, and the Executive Board is expected to approve the loan based on this accord.

Finance Minister Muhammad Aurangzeb confirmed that Pakistan has completed all preconditions under the staff-level deal and that the loan approval is forthcoming.

The release of the $1.2 billion tranche is expected to support Pakistan’s economic stability and strengthen its financial position.