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IMF reaches agreement to revive funding to Pakistan

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Islamabad, November 22

The International Monetary Fund (IMF) said on Monday it has reached a staff-level agreement to revive stalled funding for Pakistan.

“The Pakistani authorities and IMF staff have reached a staff-level agreement on policies and reforms needed to complete the sixth review,” the IMF said in a statement.

It said completion of the review would make available SDR 750 million, or approximately $1.059 billion, bringing total disbursements so far to about $3.027 billion.

Pakistan entered a $6 billion funding programme with the IMF in 2019, however, the funding stalled earlier this year due to reforms issues. Reuters

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