Islamabad: The International Monetary Fund (IMF) has formally announced that its Executive Board will review Pakistan’s 2024 Article IV Consultation and Request for an Extended Arrangement under the Extended Fund Facility (EFF) on September 25.
According to the IMF’s official website, the meeting will include discussions on Pakistan’s 37-month EFF program, totaling approximately USD 7 billion. This agreement, reached at the staff level on July 12 between the Pakistani authorities and the IMF team, will be subject to the Board’s final approval. The deal, which amounts to SDR 5,320 million (roughly USD 7 billion), hinges on timely financing assurances from Pakistan’s development and bilateral partners.
IMF Communications Director Julie Kozack, during a press briefing on September 12, confirmed the board meeting’s scheduled date. She noted that Pakistan had successfully secured the required financing assurances, allowing the board to move forward. Kozack also highlighted Pakistan’s efforts in stabilizing its economy through consistent policy measures, which have spurred economic growth, reduced inflation, and increased international reserves.
When asked directly about the status of financing assurances, Kozack reaffirmed, “Yes, Pakistan has obtained the necessary financial commitments from its development partners.”
