The International Monetary Fund (IMF) Executive Board is scheduled to meet on May 9 to assess Pakistan’s ongoing $7 billion bailout package and a new $1.3 billion climate resilience loan agreement, according to the IMF’s official website.
The meeting will mark the first review under the Extended Fund Facility (EFF), as well as Pakistan’s request for financing through the Resilience and Sustainability Facility (RSF). Finance Minister Muhammad Aurangzeb had earlier indicated during his Washington visit that he expected approval from the IMF board in early May.
If approved, the decision will release a $1 billion tranche from the 2024 bailout deal, which has been instrumental in stabilising Pakistan’s economy by securing foreign funds and restoring investor confidence.
Pakistan and the IMF had originally reached a $7 billion, three-year agreement in July 2024, aimed at promoting macroeconomic stability and enabling sustainable, inclusive growth. The 37-month EFF programme includes six performance reviews, with future disbursements depending on meeting set benchmarks.
In March, both sides concluded the first biannual review on a positive note without imposing extra revenue measures. IMF mission chief Nathan Porter commended Pakistan’s strong implementation, highlighting advancements in fiscal discipline, monetary tightening to manage inflation, and reforms to improve the energy sector’s viability.
Additionally, a separate IMF technical team visited Pakistan in response to the country’s request for over $1 billion in climate-related financing under the RSF.
