Islamabad July 06 2023: The IMF Executive Board meeting to consider a $3 billion loan program for Pakistan will be held on July 12, the Washington-based lender said in an emailed statement.
On June 29 2023, IMF team has reached a staff-level agreement with the Pakistani authorities on a nine-month Stand-by Arrangement (SBA) in the amount of SDR2,250 million (about $3 billion or 111 percent of Pakistan’s IMF quota). The new SBA builds on the authorities’ efforts under Pakistan’s 2019 EFF-supported program which expires end-June. This agreement is subject to approval by the IMF’s Executive Board, which is expected to consider this request by mid-July.
PM Shehbaz Sharif said last week that Pakistan expects to receive $1.1 billion from IMF a few days after the board approval.
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