The International Monetary Fund (IMF) has reached a significant agreement with Pakistan regarding the final review of a $3 billion bailout package. This agreement marks a crucial step towards the release of the last $1.1 billion tranche of the bailout funds. However, the release of this final tranche is contingent upon the approval of the IMF's Executive Board, as stated by the global financial institution.
A team from the IMF, headed by Nathan Porter, conducted discussions in Islamabad from March 14 to March 19 regarding the second review of Pakistan's economic program, which is supported by the IMF. The Stand-By Arrangement of $3 billion for Pakistan was approved by the IMF Executive Board last year.
In a statement, the IMF acknowledged the diligent implementation of the economic program by the State Bank of Pakistan and the interim government in recent months. Additionally, the IMF recognized the commitment of the new government to continue with policy reforms aimed at transitioning Pakistan from stabilization to a robust and sustainable recovery phase.
Considering the timing of the Second Review mission, which occurred shortly after the formation of the new cabinet, the IMF anticipates that the review will be presented to the IMF's Board for consideration in late April.
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