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Pakistan

IMF executive board to meet Pakistan authorities today

The IMF has earlier said that Pakistan has met all prior actions and performance criteria under the $6 billion prog
Updated 19 Dec 2019
  • The IMF has earlier said that Pakistan has met all prior actions and performance criteria under the $6 billion program.
  • The IMF’s executive board will first consider the report of the Economic Review of Pakistan.

The International Monetary Fund (IMF) executive board will meet with Pakistan authorities’ today (Thursday), to consider the staff level report and approval of second tranche of about $450 million under the $6 billion Extended Fund Facility (EFF).

The IMF has earlier said that Pakistan has met all prior actions and performance criteria under the $6 billion program.

“The IMF has a $6 billion program to support IMF's economic reforms. 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," said Communications Department Director Gerry Rice said in an IMF statement.

The IMF spokesperson said that the meeting indicates 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," he said.

Meanwhile, the IMF’s executive board will first consider the report of the Economic Review of Pakistan. The meeting will approve the next installment of $ 450 million for Pakistan.

Pakistan's first economic review has concluded at the staff level in November. Pakistan took $ 1 billion from the IMF in July.