IMF’s Director of Communications, Julie Kozack, disclosed in a press briefing that the long-awaited Executive Board Meeting concerning Pakistan is slated to convene by the month’s end. Kozack highlighted the positive economic strides made by Pakistan, citing a staff-level deal reached on March 19, which signifies an improved economic landscape.
Pakistan is set to receive a substantial financial boost, with $3 billion earmarked in accordance with the standby arrangement, of which $1.9 billion has already been secured. The impending meeting follows successful negotiations between Pakistan and the IMF, culminating in a staff-level agreement pending the Executive Board’s approval.
Upon the board’s endorsement, Pakistan anticipates the final installment of $1.1 billion, marking the conclusion of the $3 billion loan agreement. The IMF has expressed commendation for Pakistan’s economic endeavors, noting progress in growth and confidence, attributed to prudent policy management and renewed inflows from various partners.