ISLAMABAD : The International Monetary Fund (IMF) is set to approve the next tranche under its loan program for Pakistan, with an executive board meeting scheduled for May 8, according to sources in the Ministry of Finance.
The IMF Executive Board is expected to approve more than $1.2 billion for Pakistan. Under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF), the country will receive a total of $7 billion.
Sources further indicated a strong possibility that Pakistan will secure an additional $1 billion if the third review report is successful. Separately, an extra $210 million will be disbursed following the second review of the RSF.
A staff-level agreement between Pakistan and the IMF was reached on March 27, paving the way for the upcoming board meeting and subsequent approvals.
