ISLAMABAD – International Monetary Fund (IMF) has approved nearly $1.3 billion for Pakistan in a boost to nation’s foreign reserves. Under $7 billion Extended Fund Facility (EFF) program, Pakistan is set to receive over $1 billion, alongside more than $20 million from the $1.3 billion Rapid Financing Instrument (RFI).
With this latest release, the total IMF support to Pakistan now reaches $3.3 billion, a critical move officials say will stabilize the economy and underpin urgent fiscal reforms.
Meanwhile, Pakistan is turning to the United States for backing in revitalizing its power sector. Power Minister Awais Ahmed Leghari met US Ambassador Natalie Baker to seek assistance in engaging US-based multilateral development partners and international financial institutions, including the IMF and World Bank, aiming to remove obstacles that have hindered sustainable growth in the energy sector.
Authorities stress that these combined financial and diplomatic efforts could be a game-changer for Pakistan, potentially stabilizing the economy while paving the way for a stronger, more resilient power sector.
