Islamabad, Nov 23: IMF Confirms Pakistan’s Request for Climate Financing, Cautions on Lengthy Discussions. The Resilience and Sustainability Facility (RSF) is being prepared by Pakistan and the International Monetary Fund (IMF), and the Fund Executive Board will take this into consideration. Julie Kozack, Director of the IMF’s Communications Department, made this statement during a press briefing.
The IMF official responded to a question about RSF by saying, “Pakistan has in fact asked about an RSF arrangement. The Resilience and Sustainability Facility is located here. The authorities and our team are working on preparations. However, I should only point out that in order to finish the conversations surrounding any possible RSF, a significant amount of background work is also required. Naturally, an RSF would need to be reviewed by our Executive Board, just like any other program.
She added that a new 37-month, $7 billion EFF arrangement was approved by the Executive Board on September 25. Strengthening policymaking, enhancing economic and climatic resilience, and promoting reforms to foster more robust, sustainable, and equitable growth are among the EFF’s top aims.
“The IMF team recently completed a mission in Pakistan. The staff was encouraged by the authorities and reiterated their commitment to the initiative after the staff visit, which took place from November 12 to November 15, she noted. In response to another inquiry about the revenue deficit, the IMF stated that the team will be evaluating this as part of the comprehensive assessment mission that will be conducted.
Therefore, the crew will evaluate all of the program’s aims when the review mission occurs later. Correct. Include the financial ones. The reviews are only conducted semiannually under Pakistan’s EFF, so why was there a staff visit at this time? That makes it twice a year. In certain programs, reviews are conducted every quarter. Pakistan’s. It is semiannual in Pakistan. In between the two semiannual review missions, a brief staff visit is also quite common. She went on to say that this is typical practice.
