The International Monetary Fund (IMF) and Pakistan have reached a staff level agreement on policies and reforms to complete the sixth review under six billion dollars Extended Fund Facility. The agreement is subject to approval by the Executive Board of the IMF.
The IMF said in a statement that completion of the review would make available about 1059 million dollars to Pakistan bringing total disbursements under the Extended Fund Facility to 3,027 million dollars and this will help unlock significant funding from bilateral and multilateral partners.
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The International Monetary Fund recognised that despite a difficult environment, Pakistan continues to make progress on implementing the Extended Fund Facility programme. All quantitative performance criteria for end-June were met with wide margins.
IMF also acknowledged the efforts of Pakistan in improving anti-money laundering and combating the financing of terrorism framework.
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