The International Monetary Fund (IMF) has reached a staff-level agreement with Pakistan that would unlock $1.2 billion in funding once approved by the Fund’s Executive Board.
According to the IMF, the agreement covers two financial arrangements — $1 billion under the Extended Fund Facility (EFF) and $200 million under the Resilience and Sustainability Facility (RSF). This brings Pakistan’s total disbursements under both programmes to around $3.3 billion.
Finance Minister Muhammad Aurangzeb confirmed earlier that the government was close to finalising the deal, which marks a key step towards securing additional support from the global lender.
An IMF mission visited Islamabad last week but left without finalising the staff-level review of Pakistan’s two main financing programmes, valued at a combined $8.4 billion.
The IMF said the agreement remains subject to approval by its Executive Board, which is expected to assess the country’s fiscal performance and reform commitments before releasing the next tranche.
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Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 3 June, covering the latest developments you need to know.
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