IMF reaches staff-level agreement to release $1.17 billion in funds for Pakistan
2022.07.14 03:16
FILE PHOTO: International Monetary Fund logo is seen inside the headquarters at the end of the IMF/World Bank annual meetings in Washington, U.S., October 9, 2016. REUTERS/Yuri Gripas
NUSA DUA, Indonesia (Reuters) – The International Monetary Fund on Thursday said it had reached a staff-level agreement with Pakistan that would pave the way for disbursement of $1.17 billion, if approved by the IMF board, and was considering adding further funds to the program.
In a statement, the IMF said its staff had reached agreement on policies under a review of its Extended Fund Facility (EFF) program that could bring total disbursements under the program to about $4.2 billion, if approved.
In order to meet higher financing needs, the IMF board will also consider an extension of the EFF until the end of June 2023, and an addition of nearly $1 billion that would bring total access under the program to about $7 billion, it said.
