The International Monetary Fund (IMF) Executive Board on Friday approved $1 billion for Pakistan.
According to reprots, $1 billion approved under the EFF (Extended Fund Facility). After the approval by the Executive Board, the $1 billion tranche will be released immediately.
The EFF program spans 37 months, while the RSF has a duration of 28 months.
Pakistan has achieved key targets under the program, including tax-to-GDP ratio, primary balance, and provincial surplus goals.
Experts say this package is critical for supporting the national economy and ensuring financial stability. India reportedly attempted to block the meeting, and after failing, removed its representative from the Board.
It is also worth noting that an IMF delegation will visit Pakistan from May 14 to 22 to assist in budget preparation.
IMF approves $1.3 Billion Loan to Pakistan with focus on economic reforms, climate resilience
