IMF to decide on pivotal $1.17b tranche today

Executive board meets in Washington

The International Monetary Fund (IMF) board meeting will be held in Washington on Monday (today) to approve the $1.17 billion for Pakistan.

Finance Ministry officials are hopeful that the IMF executive board will approve a one-year extension of the loan program and increase the overall volume by $1 billion.

They added that it is highly probable that the loan program is extended till June next year. “The total volume of debt will be increased from $6 billion to $7 billion dollars.”

The officials maintained that Pakistan has met all the conditions that are required for the program to be revived.

The staff level agreement between Pakistan and IMF was signed in July 2022.

The Ministry of Finance officials concluded that after receiving the next tranche, the issued amount will reach $4.2 billion dollars.

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