ISLAMABAD: Pakistan expects the International Monetary Fund’s (IMF) Executive Board to approve the country’s next loan tranche in early December after reaching a staff-level agreement in October, Finance Minister Muhammad Aurangzeb said on Wednesday.
Last month, the IMF announced it had reached the agreement with Pakistan for the second review of its 37-month Extended Fund Facility (EFF) and the first review of a 28-month Resilience and Sustainability Facility (RSF), a step that could unlock about $1.2 billion once approved by the Fund’s executive board.
Pakistan secured a $7 billion bailout from the IMF in September 2024 after months of negotiations to stabilize its struggling economy, rebuild reserves and attract foreign investment.
Since then, the IMF has said implementation has remained strong, with fiscal and monetary tightening restoring a measure of stability. The current-account balance recorded a surplus, inflation has eased and external buffers have improved.
“We are under the Fund program, so the second review went well and we had a staff-level agreement announced in Washington, and God willing it goes to the board in early December [for approval],” Aurangzeb said while speaking at The Future Summit in Karachi.
