Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement (SLA) on reviews of the implementation of the $7 billion Extended Fund Facility (EFF) and $1.1bn Resilience and Sustainability Facility (RSF), the Fund said on Wednesday.
Last week, an IMF mission led by Iva Petrova concluded talks with Pakistani authorities on the on the second review of the EFF — agreed in 2024 to shore up the economy after a severe financial crisis — and the first one of the RSF climate loan.
“The IMF team has reached a staff-level agreement with the Pakistani authorities on the second review of the 37-month Extended Arrangement under the Extended Fund Facility (EFF) and the first review of the 28-month arrangement under the Resilience and Sustainability Facility (RSF),“ Petrova said in a statement issued by the IMF.
Yesterday, Finance Minister Muhammad Aurangzeb met with IMF’s Middle East and Central Asia Department Director Jihad Azour on the sidelines of the IMF World Bank annual meeting in Washington and discussed Pakistan’s reform agenda.
More to follow
