ISLAMABAD: A mission from the International Monetary Fund (IMF) will arrive in Pakistan next week, Finance Minister Muhammad Aurangzeb said on Wednesday, with a first review of a $7 billion bailout programme due in March.
Islamabad secured the $7 billion Extended Fund Facility (EFF) last summer as part of an economic recovery plan.
First review of $7bn EFF programme: Protracted IMF-govt talks likely
Pakistan’s economy had stabilised and now needs to focus on an export led growth, the finance minister said.
The IMF team usually spends around two weeks to review fiscal reforms and policy.
A separate IMF team is visiting Pakistan to discuss around $1 billion in climate financing on top of the EFF.
IMF lauds Pakistan’s commitment to governance, corruption assessment
That disbursement will take place under the IMF’s Resilience and Sustainability Trust, created in 2022 to provide long-term concessional cash for climate-related spending, such as adaptation and transitioning to cleaner energy.
American Dollar Exchange Rate