IMF Board to Meet on July 12 to Approve Initial $1.1 Billion for Pakistan

The International Monetary Fund (IMF) Executive Board will meet on 12 July to approve the disbursal of an initial tranche of $1.1 billion for Pakistan under the lender’s $3 billion Standby Agreement (SBA) for the cash-strapped nation, well-informed sources told ProPakistani.

Pakistan has been assured of external financing to the tune of $6 billion in 2023-24, with $1.1 billion arriving this month under the Fund’s SBA arrangement.

Pakistan has likely identified all priority points and now will implement them accordingly.

Based on the IMF agreement, the market will determine the exchange rate for currencies and no supplemental grants would be authorized beyond the fiscal year budget.

Overall, the SBA arrangement promulgates the federal government to adhere to all key targets.