ISLAMABAD – Pakistan has inched closer to securing $2 Billion from International Monetary Fund (IMF) as talks with global lender concluded on the first review of the $7 billion Extended Fund Facility (EFF) programme.
In a statement, International Monetary Fund (IMF) team commended Pakistan for progress made on the first review of economic program under the Extended Fund Facility (EFF). The visit focused on key aspects of Pakistan’s ongoing economic reforms and discussions on a potential new arrangement under the IMF’s Resilience and Sustainability Facility (RSF).
IMF mission chief Nathan Porter acknowledged successful advancement of fiscal consolidation aimed at reducing public debt, maintaining tight monetary policies to keep inflation low, and accelerating cost-reducing reforms in the energy sector to enhance its long-term viability.
The visiting members highlighted Pakistan’s continued structural reform efforts, which include enhancing growth prospects while boosting social protection and increasing investments in health and education.
Porter emphasized that discussions also made notable headway on climate reforms designed to reduce the country’s vulnerability to natural disasters and related risks. These reforms could potentially be supported under a new RSF arrangement, aimed at bolstering Pakistan’s resilience to environmental challenges.
IMF team and Pakistani authorities are set to continue discussions virtually to finalize the remaining details of these critical agreements in the coming days.
No mini-budget before June as IMF satisfied with Pakistan’s economic steps
