Islamabad: The International Monetary Fund (IMF) and Pakistani authorities have reached a staff-level agreement concerning the first review under Pakistan’s thirty-seven-month, $7 billion Extended Fund Facility (EFF). The agreement, pending board approval, paves the way for Pakistan to access around $1 billion under the EFF, increasing the total disbursements to approximately $2 billion.

The deal also encompasses a new 28-month, $1.3 billion arrangement under the Resilience and Sustainability Facility. This dual approach aims to bolster Pakistan’s ongoing economic reform efforts, which focus on tax equity, monetary stability, energy sector transformation, and climate resilience.

Supported by the IMF, these initiatives are intended to lay the groundwork for a sustainable and prosperous future. The agreement signifies Pakistan’s progress in implementing substantial economic reforms, strengthening the country’s fiscal and economic framework.

The IMF’s backing is seen as pivotal in supporting Pakistan’s economic agenda, promoting stability, and enabling long-term growth.