The International Monetary Fund's Executive Board is scheduled to meet on July 3 with consideration of Pakistan's request for $6 billion thirty nine months Extended Fund Facility (EFF) on the agenda. The IMF Executive Board calendar updated on its website shows that its meeting has been scheduled for July 3, and the agenda includes, "three-year extended fund facility."
An IMF mission led by Ernesto Ramirez Rigo visited Pakistan from April 29 to May 11, to discuss IMF support for the authorities' economic reform programme. On 12 May 2019 Pakistani authorities and the IMF team reached a staff level agreement. Pakistan has met IMF's prior conditions including a market based exchange rate, a raise in the discount rate and 0.6 percent primary deficit in budget for fiscal year 2019-20. The agreement is subject to IMF Executive Board approval. The government has budgeted Rs 357.450 billion from the IMF for next fiscal year as budgetary support.
Comments
Comments are closed.