IMF Board to Review Pakistan's $7 Billion Loan on September 25
The International Monetary Fund (IMF) has announced that its Executive Board will convene on September 25 to review Pakistan’s $7 billion Extended Fund Facility (EFF) arrangement.
IMF spokesperson Julie Kozack confirmed the meeting date during a press briefing on Thursday, noting that it follows Pakistan’s successful securing of necessary financing assurances from its development partners.
In July, IMF and Pakistani officials reached a staff-level agreement on a 37-month EFF worth approximately $7 billion, pending approval by the IMF’s Executive Board.
Earlier in the day, State Bank of Pakistan (SBP) Governor Jameel Ahmad revealed that Pakistan had secured the required $2 billion in external financing for the IMF program, clearing the path for the board’s approval later this month.
