ISLAMABAD: The second and final review of the Standby Arrangement between Pakistan and the IMF will begin today in the federal capital.
According to a statement issued by the Ministry of Finance, Pakistan has met all the targets for the successful completion of the IMF review. The statement added that this will be the final review followed by a staff-level agreement.
The final tranche of $1.1 billion will be released after approval by the IMF’s Executive Board after an agreement is reached at the staff level. It may be mentioned here that the International Monetary Fund’s Executive Board approved a $3 billion standby agreement for Pakistan in mid-July 2023.
2,250 million (about $3 billion or 111 percent of Pakistan’s quota) on the SBA was reached in the last week of June when an IMF staff team led by Nathan Porter held personal and virtual meetings.
On July 13, the IMF transferred $ 1.2 billion to the State Bank of Pakistan out of a total of $3 billion under this agreement.
Subsequently, the first successful review was conducted in mid-November 2023, after which $700 million was disbursed to Pakistan after approval from the Fund’s Executive Board.
