IMF Executive Board Meeting on Pakistan Scheduled For Next Week

The International Monetary Fund (IMF) Executive Board is scheduled to consider the first review under Pakistan’s current $ 3 billion stand-by arrangement (SBA) on January 11, 2024. According to the Executive Board calendar updated on the Fund website, the Board would take “ Pakistan – First Review Under the SBA” on its agenda on January 11, 2024. The current IMF program of $3 billion is scheduled to end in the second week of April 2024, with around $1.8 billion remaining un-disbursed. The Fund released $ 1.2 billion as the first tranche in July. The IMF staff and the Pakistani authorities reached a staff-level agreement on November 15, on the first review under Pakistan’s SBA, subject to approval by the IMF’s Executive Board. Upon approval, Pakistan will have access to SDR 528 million (around US $700 million).