- $ 1 billion on EFF, $ 1.3 billion on RSF.
- Disbursement pending approval from the IMF board of directors.
- The staff level exams ended on March 25.
Director of the communications department of the International Monetary Fund (IMF), Julie Kozack, said that Pakistan would have access to a total of $ 2.3 billion in prolonged fund installations (EFF) and resilience and ease of sustainability (RSF) following staff level agreements (SLA).
In her press conference at the IMF headquarters in Washington, she said that the IMF board of directors on September 25, last year, had approved a $ 7 billion agreement for Pakistan extending over 37 months.
She added that the SLA during the first review was reached on March 25, when there was also another agreement at the level of the staff concluded on the same day on RSF.
She said that in the EFF arrangement, which is the first program examination, Pakistan will have $ 1 billion access to the official AFMI of the IMF board.
Similarly, Pakistan would be disbursed an amount of $ 1.3 billion under the installation of resilience and sustainability, following the approval of the executive council of the IMF.
IMF staff have entered into an agreement with Pakistan for a new $ 1.3 billion agreement and also agreed to the first rescue program in the course of 37 months earlier this week.
The new 28 -month agreement would support Pakistan’s efforts to mitigate and adapt to climate change.
Meanwhile, the federal government should unveil the 2025-2026 budget after numerous consultations with the IMF, according to sources from the Ministry of Finance.
A IMF delegation is expected to visit Pakistan in the coming weeks for new discussions, virtual negotiations and in person continuing to the finalization of the budget, the sources said.
The budget, scheduled for presentation in early June, will incorporate economic policies and budgetary measures in accordance with the recommendations of the IMF.
Officials revealed that the IMF had agreed to provide limited repair in the real estate sector. Under the new budget, the federal excise duties on the first sale of goods will be eliminated, although the reservoir and income tax rates will remain unchanged.
The IMF board of directors should approve these recommendations at the end of May or June, coinciding with the completion of the budget. Non-compliance with the conditions of the IMF could compromise Pakistan access to climate-related financial assistance.