KARACHI: A visiting International Monetary Fund (IMF) mission kicked off talks with Pakistani officials on Monday as it holds the second review of its $7 billion External Fund Facility (EFF) and first review of the $1.4 billion Resilience and Sustainability Facility (RSF) loan programs for the country, the lender confirmed.
The IMF mission arrived in Pakistan on Sept. 25 to conduct the reviews. The global lender approved a $7 billion bailout package for Pakistan under its EFF program in September 2024 while in May, it approved a separate $1.4 billion loan for Pakistan as a climate resilience fund. The RSF will support Pakistan’s efforts in building economic resilience to climate vulnerabilities and natural disasters.
“Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chairing the kick-off meeting with the visiting IMF Review Mission at the Finance Division today,” the IMF said in a statement, sharing pictures of the meeting between the two sides.
The discussion takes place as Pakistan seeks concessions in its program targets following devastating floods that killed over 130 in its eastern Punjab province since late August, impacted over 4.5 million people and destroyed large swathes of crops. The devastation has spiked food prices in many parts of the country, with experts warning of food shortages due to supply chain disruptions.
