IMF Board Likely to Approve $7 Billion Bailout for Pakistan in Mid-August

The International Monetary Fund (IMF) Executive Board will likely take up the agenda of Pakistan’s new $7 billion bailout package in mid-August, official sources told ProPakistani. Sources told PrOPakistani that the lender will confirm the bailout within 4-6 weeks with mid-August as the most ideal timeline for the Board to approve disbursement. Timely confirmation of necessary financing assurances from Pakistan’s development and bilateral partners will help fast-track the process. Early discussions will be held to arrange funding to address climate change and natural disaster risks. Sources added that the IMF is also considering Pakistan’s proposal for claim financing. Pakistan needs to identify long-term priority projects related to climate change to benefit from the IMF’s Resilience and Sustainability Facility (RSF) program, which offers affordable and long-term financing. The Ministry of Finance will need to collaborate with other international organizations to achieve this, sources added.