IMF Board to Discuss Pakistan’s $7 Billion Loan on September 25

The International Monetary Fund (IMF) confirmed on Thursday that its Executive Board will meet on September 25 to discuss the $7 billion Extended Fund Facility (EFF) to Pakistan.   “The board meeting is scheduled to take place on September 25 and this is following Pakistan obtaining necessary financing assurances from its development partners,” IMF’s spokesperson Julie Kozack said while addressing a press briefing.   IMF and the Pakistani authorities had reached a staff-level agreement on a 37-month Extended Fund Facility Arrangement (EFF) of about $7 billion back in July, subject to approval by the IMF’s Executive Board.   Earlier in the day, State Bank of Pakistan (SBP) Governor Jameel Ahmad said that Pakistan had arranged the $2 billion external financing required for the International Monetary Fund (IMF) program, paving the way for IMF board approval during the current month.