ISLAMABAD - Pakistan and International Monetary Fund (IMF) will meet in Dubai on Wednesday for the eight economic review under extended fund facility (EFF).

The meetings will be held in Dubai from July 29 to August 6 to review the economic performance of the previous financial year. Pakistan had so far received eight tranches of about $4.05 billion since September 4, 2013, when the Executive Board approved the three-year extended arrangement under the EFF in the amount of $6.18 billion.

Pakistan’s foreign exchange reserves had reached $18.68 billion mainly due to loans received from IMF, World Bank and others. The State Bank of Pakistan’s held reserves stood at $13.54 billion and of commercial bank at $5.13 billion. The reserves would further increase next week when country would receive $337 million from the United States under Coalition Support Fund (CSF). Pakistan’s reserves might surge to $19 billion benchmark for the first time after receiving CSF tranche. Earlier, the country’s reserves reached an all-time high of $18.243 billion in 2010-11.