The IMF has said it has reached an agreement with the Pakistani authorities “on policies and reforms” needed to complete the second review of the $6 billion loan approved for the cash-strapped country’s fragile economy, a media report said on Friday.
In July last year, the International Monetary Fund’s (IMF) Executive Board “approved a 39-month extended arrangement” under the Extended Fund Facility (EFF) for Pakistan for $6 billion to support its economic reform programme. Pakistan’s finance ministry approached the IMF in August 2018 for a bailout package when the Imran Khan government took over.
“IMF staff and the Pakistani authorities have reached a staff-level agreement on policies and reforms needed to complete the second review of the authorities’ reform programme supported under the EFF,” the Dawn newspaper quoted IMF’s Mission Chief for Pakistan Ernesto Ramirez Rigo as saying.
