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ISLAMABAD: The International Monetary Fund (IMF) Executive Board is scheduled to consider the first review under Pakistan’s current $ 3 billion stand-by arrangement (SBA) on January 11, 2024.

This was confirmed by IMF Resident Representative in Pakistan Esther Perez Ruiz to Business Recorder.

She stated, “We are pleased to confirm that the IMF’s Executive Board Meeting is scheduled to consider the first review under Pakistan’s current Stand-By arrangement on January 11, 2024”.

Pakistan’s future is ‘very bright’: IMF officials laud improvement in economic situation

The current IMF programme of $3 billion is scheduled to end in the second week of April 2024, with around $1.8 billion remaining un-disbursed. The Fund released $ 1.2 billion as the first tranche in July.

The IMF staff and the Pakistani authorities reached a staff-level agreement on November 15, on the first review under Pakistan’s SBA, subject to approval by the IMF’s Executive Board.

Upon approval, Pakistan will have access to SDR 528 million (around US $700 million).

Copyright Business Recorder, 2023

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