Islamabad, Sep 4: Pakistan has not yet been added to the agenda of the International Monetary Fund’s (IMF) executive board meetings, which are set for September 13.
The executive board meeting scheduled for September 4, 6, 9, and 13 has been rescheduled by the IMF, according to the Fund’s website. However, the 37-month Extended Fund Facility Arrangement (EFF) of approximately $7 billion for Pakistan is not included in the agenda.
On July 12, the IMF delegation and the Pakistani government came to a staff-level agreement on a 37-month EFF for SDR 5,320 million, or almost USD 7 billion.
This agreement is contingent upon the Executive Board of the IMF approving it and Pakistan’s development and bilateral partners quickly confirming the requisite finance assurances.
According to reports, the administration is trying to get major allies like China, Saudi Arabia, and the United Arab Emirates (UAE) to roll over $12 billion in loans. Furthermore, Pakistan is said to have asked Saudi Arabia for an extra $1.2 billion loan in order to cover a $2 billion funding shortfall.
