Talks on first review of $7bn loan programme with IMF conclude
- IMF staff to finalise its recommendations for Executive Board’s review, according to sources
ISLAMABAD: The International Monetary Fund (IMF) mission and Pakistani authorities on Friday concluded talks on the first review of the $ 7 billion Extended Fund Facility (EFF) programme.
Following the completion of the ongoing discussions, the IMF staff will finalize its recommendations for the Executive Board’s review, a prerequisite for Board approval for the release of the one billion dollar tranche.
The nine-member IMF mission led by Nathan Porter reached Pakistan on March 3 and was scheduled to stay for around two weeks.
Talks begin on first review of EFF program
According to sources within the Ministry of Finance, Pakistan had requested a loan of $2 billion from the IMF, which included the disbursement of the $1 billion tranche under the EFF and an additional $1 billion in climate financing.
The sources further said that approval for both the loan tranche and climate financing would be considered by the Executive Board.
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