The International Monetary Fund (IMF) and Pakistan on Tuesday formally launched talks in Islamabad for the first review of a $7 billion extended fund facility that was secured in 2024.
According to reports, during the parleys Pakistani side was led by the Finance Minister Senator Muhammad Aurangzeb while Nathan Porter headed the International Monetary Fund delegation. Both sides discussed the overall economic situation in Pakistan. During the last week a high level IMF team visited Pakistan to discuss around 1 billion dollar amount in climate financing on top of the Extended Fund Facility (EFF) programme.
The disbursement will be made through the IMF’s resilience and sustainability trust, created in 2022 to provide long-term concessional funding for climate-related spending, such as adaptation and transitioning to cleaner energy.
Earlier, the IMF mission began talks with Pakistani officials on the first review of the $7 billion EFF on Monday. A nine-member IMF delegation is presently on a Pakistan visit. During the talks between Pakistan and IMF, the talks will initially focus on technical aspects, with policy-level discussions to follow in the second stage.
International Monetary Fund mission is in Islamabad for its biannual review of the $7 billion bailout deal. In July 2024, Pakistan and the IMF finalized a three-year, seven billion dollar package designed to help Pakistan establish macroeconomic stability, foster stronger and more inclusive growth in the country.
Pakistan’s economy is back on track and is yielding positive results from last year as the incumbent government is focusing on economic revival, industrial growth and infrastructure development of the country.
