Pakistan, IMF reach staff-level agreement on 1st review of loan programme

Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement on the first review under Pakistan’s 37-month $7bn Extended Fund Facility (EFF) and on a new 28-month $1.3bn arrangement under the Resilience and Sustainability Facility (RSF), the federal government and the IMF confirmed. “The IMF team has reached a staff-level agreement (SLA) with the Pakistani authorities on the first review of the 37-month Extended Arrangement under the Extended Fund Facility (EFF), and on a new 28-month arrangement under the IMF’s RSF with total access over the 28 months of around $1.3 billion (SDR 1 billion). Upon approval, Pakistan will have access to about US$1.0 billion (SDR 760 million) under the EFF, bringing total disbursements under the program to about US$2.0 billion,” the IMF said in a statement.