The International Monetary Fund’s (IMF) executive board will meet on January 11 to consider the final approval to disburse the next $700 million tranche from its current loan programme with Pakistan, according to Bloomberg that quoted an unnamed spokeswoman.
Business Recorder reached out to Esther Pérez Ruiz, the IMF Resident Representative in Pakistan, but a response was awaited.
The development comes as Pakistan and the IMF last month reached a staff-level agreement on the first review of the $3-billion, nine-month Stand-By Arrangement (SBA), which was originally announced on June 30.
The board approval, which is typically a formality after the staff-level agreement, had been the subject of debate as many expected it to happen in December. Earlier, it had been reported that Pakistan is not on the agenda as the first review remains pending.