Pakistan review on IMF Executive Board agenda on January 11

ISLAMABAD: The International Monetary Fund (IMF) is scheduled to consider the first review of Pakistan’s $ 3 billion stand-by arrangement (SBA) on January 11, ARY News reported on Monday.

The executive board of the International Monetary Fund (IMF) will meet on January 11 to consider the final approval to disburse the next $700 million tranche from its current loan programme with Pakistan.

According to the updated calendar of the executive board, the Board would take the agenda of the first review of Pakistan under the SBA on January 11, 2024.

The current IMF program of $3 billion is scheduled to end in the second week of April 2024, with around $1.8 billion remaining un-disbursed. The Fund had released $ 1.2 billion first tranche in July.

The IMF said in November it had reached a staff-level agreement with Pakistan on the first review of a $3 billion bailout, which will unlock $700 million in funding for the country.

The Fund will decide about disbursement of remaining $1.1 billion after completion of the next review of the bailout package.