Islamabad: Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement on the Third Review for the 37-month Extended Arrangement under the Extended Fund Facility. This development is a significant step towards financial support for Pakistan, facilitating access to substantial funds.

According to Radio Pakistan, the Finance Ministry of Pakistan announced the agreement on its official X handle. The two parties also concluded the Second Review for the 28-month Arrangement under the Resilience and Sustainability Facility. The agreement is expected to enable Pakistan to access approximately one billion dollars through the Extended Fund Facility and around 210 million dollars via the Resilience and Sustainability Facility.

With these new arrangements, the total disbursements under the two facilities are projected to reach about 4.5 billion dollars, providing crucial financial assistance to Pakistan amidst ongoing economic challenges.