Pakistan not on agenda of IMF's executive board meeting

WASHINGTON: The International Monetary Fund (IMF) has not yet included Pakistan on the agenda of its executive board meeting scheduled for April 29, ARY News reported.

According to the details, the IMF issued the agenda of the executive board meeting set to be held on April 29 but a review under the $ 3 billion stand-by arrangement (SBA) programme with Pakistan is not on the agenda.

Pakistan is hoping the approval from the executive board which would pave the way for the country to receive funds of around $1.1 billion as its final tranche of the $3-billion SBA signed last year in June 2023.

Earlier, the IMF hinted at holding the executive meeting later in April.

Earlier Finance Minister Muhammad Aurangzeb told Reuters that Pakistan hopes to agree the contours of a new International Monetary Fund (IMF) loan in May.

According to the finance minister, the government has kicked off talks with ratings agencies to lay the groundwork for a return to international debt markets.

The country’s current $3 billion arrangement with the fund runs out in late April and the government is seeking a longer and bigger loan to help bring permanence to macroeconomic stability as well as an umbrella under which the country can execute much needed structural reforms, the minister said.