ISLAMABAD - The International Monetary Fund (IMF) has not yet included Pakistan on the agenda of its executive board meetings scheduled till September 13.
According to the Fund’s website, the IMF issued the schedule of the executive board meeting set to be held on September 4, 6, 9 and 13. However, Pakistan’s case is still not on IMF’s board agenda.
Pakistan and the IMF had struck a staff level agreement on July 12, 2024 and it was hoped that Islamabad’s request would be considered for approval by the IMF’s executive board in four to six weeks. The agreement was subject to approval by the IMF’s Executive Board and the timely confirmation of necessary financing assurances from Pakistan’s development and bilateral partners.
The main reason behind approval of Pakistan’s programme is the country’s confirmation on an external financing gap of $3 to $5 billion. Therefore, Pakistan is, so far, unable to sign a Letter of Intent (LoI) for making a formal request to the IMF’s executive board for considering approval of $7 billion under the EFF programme.
