SBP Governor Hopeful of IMF’s Nod Today Paving Way for $1.1 Billion Loan Tranche

State Bank of Pakistan (SBP) Governor Jameel Ahmad Wednesday said that the International Monetary Fund (IMF) Executive Board is likely to approve the Extended Fund Facility Arrangement (EFF) of about $7 billion for Pakistan paving the way for the release of an initial $1.1 billion tranche.  Speaking to reporters, the governor said that Pakistan’s current account deficit is likely to remain around 1 percent of GDP. He further said that inflation is expected to remain around 11.5 percent while GDP growth is likely to be in the 2.5 percent to 3.5 percent range.  IMF staff and the Pakistani authorities had reached a staff-level agreement on a 37-month Extended Fund Facility Arrangement (EFF) back in July this year.