WASHINGTON/ISLAMABAD: The International Monetary Fund’s (IMF) Executive Board is scheduled to meet on May 9 to discuss the $1.3 billion staff-level agreement with Pakistan under its ongoing 37-month bailout programme.
The meeting, as per the statement issued by the IMF, will cater to Pakistan’s Extended Fund Facility (EFF), request for the modification of performance criteria, and request for an arrangement under the Resilience and Sustainability Facility (RSF).
The Washington-based lender and Islamabad reached an SLA and agreed on the first review of the $7 loan facility in March. The SLA, a 28-month deal, would support Pakistan’s efforts to mitigate and adapt to climate change, the IMF had said back then.
If approved by the IMF’s Executive Board, Pakistan will have access to approximately $1 billion under the EFF, bringing total disbursements under the programme to around $2 billion.
This is a developing story and is being updated with more details.
