$6 billion IMF's EFF: Prior actions, performance criteria met: Rice

Pakistan has met all prior actions and performance criteria under the $6 billion Extended Fund Facility (EFF) and the financing assurances needed for the program to go forward are in place, says International Monetary Fund (IMF). Gerry Rice, Director Communications Department of IMF during a press briefing stated that the IMF has a $6 billion program to support economic reforms. He further stated, "We had a mission there in November and the communication around that with a preliminary assessment of where we think Pakistan stands - which is that the program is on track and we reached a staff level agreement on what we call the first review."

He further stated, "We had the preliminary assessment from staff after that mission to Pakistan and the board will meet to discuss that first review on Thursday (December 19). What that indicates is that all prior actions and performance criteria under the program with Pakistan have been met. And that the financing assurances needed for the program to go forward are in place."