Islamabad: The Executive Board of the International Monetary Fund (IMF) is expected to convene in mid-August to deliberate on a $7 billion bailout package for Pakistan. The agreement on staff-level measures between Pakistan and the IMF was reached on July 12, according to the Ministry of Finance.
The Ministry stated that the IMF Executive Board is likely to give final approval for the staff-level agreement within 4 to 6 weeks, contingent upon Pakistan securing external financing before the board meeting.
Sources indicated that discussions on funding are anticipated to accelerate to address environmental changes and natural disaster risks. The IMF has acknowledged Pakistan’s eligible request for climate financing.
Furthermore, the Ministry highlighted the need for Pakistan to identify long-term priority projects related to climate change adaptation, while the IMF’s Extended Fund Facility (EFF) program provides concessional and long-term financing.
According to finance ministry sources, achieving this objective will necessitate collaboration with other international organizations.
IMF Executive Board Likely to Discuss $7 Billion Bailout Package for Pakistan in August
