ISLAMABAD: The International Monetary Fund (IMF) has scheduled an executive board meeting on December 8 to approve an immediate installment of $1.2 billion for Pakistan, which is set to be disbursed under two parallel programs.
According to reports, Pakistan and the IMF reached a staff-level agreement on October 14 regarding the second review of the $7 billion Extended Fund Facility (EFF) and the first review of the $1.4 billion Resilience and Sustainability Fund (RSF).
Under the terms of this agreement, Pakistan is slated to receive $1 billion under the EFF and an additional $200 million under the RSF, totaling $1.2 billion.
This amount is expected to be transferred to Pakistan’s account on December 9, which will bring total disbursements under both programs to approximately $3.3 billion.
The IMF executive board’s schedule indicates that separate meetings will be held for Pakistan and Somalia on December 8, during which the staff-level agreements are expected to be formally approved.
Ahead of this board meeting, Pakistan is expected to publish the Governance and Corruption Diagnostic Assessment Report, a crucial structural benchmark under the EFF program.
The original deadline for this report was set for the end of July but was subsequently extended to the end of October due to technical and factual disagreements between Pakistani authorities and IMF experts.
Officials now confirm that these differences have been resolved, and Pakistan has assured the IMF that the report will be released prior to the board meeting.
Further discussions between the two parties emphasized minimizing the time gap between the publication of the GCD report and the implementation of the governance action plan, ensuring that the agreed-upon reforms are executed in a timely manner.
