The Executive Board meeting of the International Monetary Fund (IMF) will be held on May 8 at which the release of tranches of $1.21 billion for Pakistan is likely to be approved, reported 24NewsHD TV channel on Tuesday.
Pakistan was formally included in the schedule for the IMF Executive Board meeting which will be held on May 8.
The third review of the $7 billion Extended Fund Facility (EFF) will be presented at the meeting.
The second review of Climate Financing will also be presented at the meeting for approval.
Pakistan will get $210 million under the climate financing, while it will get $1 billion under the EFF.
The development follows a staff-level agreement reached between Pakistan and the Fund in March, under which both agreed on measures aimed at strengthening public finances, maintaining macroeconomic stability and advancing structural reforms.
Officials said discussions between Islamabad and the Fund had also focused on fuel pricing adjustments, subsidy rationalization and meeting petroleum levy targets outlined in the current fiscal framework.
The international money lending organization has acknowledged progress in Pakistan’s economic recovery, citing contained inflation, improved external buffers and growing market confidence, while also warning that regional tensions and volatile energy prices could pose risks to the outlook.
According to the IMF officials, approval by the executive board would raise Pakistan’s total disbursements under the two arrangements to about $4.5 billion.
Reporter: Waqas Azeem