Islamabad, May 9 — The International Monetary Fund (IMF) Executive Board is set to meet today (Friday) with Pakistan’s financial program high on the agenda. The board is expected to approve a disbursement of $1.1 billion under the ongoing Extended Fund Facility (EFF).
The meeting will also consider Pakistan’s request for a modification of performance criteria and approval for a 28-month $1.3 billion Resilience and Sustainability Facility (RSF). According to an IMF statement, discussions on these items are part of the first review under the Extended Arrangement.
Meanwhile, IMF Director of Communications Julie Kozack confirmed that Pakistan has secured $1.3 billion in climate financing under the RSF, responding to a query from ARY News during a press briefing.
Last month, Pakistan and the IMF reached a staff-level agreement on the EFF’s first review and the RSF arrangement. Upon Executive Board approval, Pakistan will gain access to approximately $1 billion immediately, bringing total EFF disbursements to $2 billion.
