The International Monetary Fund (IMF) and Pakistani authorities have reached a staff-level agreement on the first review of Pakistan's Extended Fund
The International Monetary Fund (IMF) and Pakistan have reached a staff-level agreement for a $1 billion loan under the Stand-By Arrangement (SBA) and an additional $1.3 billion under the Resilience and Sustainability Facility (RSF) to support climate initiatives. This agreement, pending approval by the IMF's Executive Board, aims to bolster Pakistan's economic stability and address climate change challenges. The funds are part of a broader economic reform program that includes fiscal consolidation, energy sector reforms, and enhancing climate resilience. The agreement follows a successful first review of Pakistan's economic performance under the SBA, which was initially approved in July 2023. The IMF has praised Pakistan for its commitment to implementing reforms despite facing significant economic and environmental pressures.
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